Daily Management Review

Ailing Sergio Marchionne Replaced By Mike Manler As CEO At Fiat Chrysler


07/22/2018




Ailing Sergio Marchionne Replaced By Mike Manler As CEO At Fiat Chrysler
The board of directors at Fiat Chrysler Automobiles announced on Saturday that its ailing chief executive officer (CEO), Sergio Marchionne would be replaced for the position by high-ranking in-house executive Mike Manley.
 
It has been over a month that Marchionne, 66, has not appeared in public after he was subjected ot a shoulder surgery.
 
"During the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours. As a consequence, Mr. Marchionne will be unable to return to work," the carmaker said in a statement.
 
"I am profoundly saddened to learn of Sergio's state of health. It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice", FCA Chairman John Elkann said in a separate statement,
 
It was way bank in 2004 that Marchionne – a dual citizen of Italy and Canada, was made the CEO of the company which was then only known as Fiat. He was instrumental in conceiving and implementing the historic merger between Fiat and the US car manufacturer Chrysler in 2014.  He had also previously been the chairman of CNH Industrial and Chairman and CEO of Ferrari.
 
On the other hand, the chief of the Ram and Jeep brand divisions of the company, Manley had been appointed to the company in 2000 and he is of British origin. He is also a member of the FCA’s U.S. board and of the Group Executive Council of the company which is the governing body of the company.
 
As chief operating officer (COO) of FCA's Asia-Pacifica region, Manley was also previously tasked with overseeing the expansion of Jeep into China. he had bene instrumental in the development of personal and close relationships with top executives of the Chinese company Guangzhou Automobile Group Co. and was instrumental in Fiat Chrysler creating the Chinese joint venture with the Chinese automaker according to a report by Automotive News.
 
Apart from being appointed as the CEO, the FCA board also nominated him to be the COO of FCA's NAFTA region, which is a market that comprises of Canada, Mexico and the United States. The board said that he would also be tasked with the implementation of the company's 2018-2022 business plan which was unveiled by the company on June 1 this year.
 
In the NAFTA regions, the company had shipped about 2.4 million vehicles and had managed to sell sloe to one million cars and other vehicles in Europe. During the last year, virtually all of its divisions posted year-on-year sales growth to the tune of at least 3.5 per cent. The company’s corporate website states that it currently provides employment to over 90,000 people globally.
 
The Agnelli family, of which Elkann is an heir, founded the Fiat company in 1899 and the name stood for Fabbrica Italiana Automobili Torino.
 
(Source:www.xinhuanet.com)






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