The legacy of the formidable Italian-Canadian CEO is rich.
Sergio Marchionne, a former Fiat-Chrysler boss and Ferrari chief, died in hospital in Switzerland at the tender age of 66. Chrysler’s turnaround in 2009 was made possible by the formidable executive from the automotive industry. The carmaker emerged from Chapter 11 bankruptcy protection after receiving emergency funds from the U.S. government.
Marchionne was appointed CEO of Fiat in 2004 and became a hardworking, no-nonsense worker who pushed his subordinates to the limit. Marchionne was born in Italy and his family immigrated to Canada at the age of 13. He also had dual citizenship. He was well-known for his trademark black woolen jumper, and was seldom seen in a suit or tie. His greatest achievement was the orchestration of Fiat-Chrysler’s merger in 2014. In recent years, he has shifted the company’s strategy to concentrate on SUVs, especially from the Jeep brand. Another bold move was the spin-off of Ferrari as an independent floated company. He was an avid visitor to F1 races and kept an eye on the progress of Ferrari F1 teams.
Fiat-Chrysler made a surprise announcement in July 2018 that Marchionne would be undergoing surgery for an unspecified shoulder injury. Since then, it has been revealed that Marchionne was suffering from a large cancer in his right shoulder. He also had chronic pain which he tried to minimize in his daily work. On 21 July 2018, Fiat-Chrysler, Ferrari and Fiat-Chrysler announced that Marchionne was being replaced in all his positions by British Mike Manley. Marchionne suffered a stroke in surgery that left him with brain injuries from which he never fully recovered. Already, tributes are pouring in from all over Italy and around the globe. Marchionne is survived by Manuela Battezatto his partner and two children.