Mike Manley, Jeep Head, has been selected as the replacement.
Sergio Marchionne is Fiat Chrysler Automobiles CEO. Marchionne announced Marchionne’s resignation on Saturday. According to the company, “during this week unexpected complications developed while Mr. Marchionne was undergoing surgery. These have worsened significantly in the recent hours.” In the end, Mr. Marchionne won’t be able to return to work.
John Elkann, chairman of FCA, said in a separate statement that “I am deeply saddened to hear about Sergio’s health.” “It’s a situation that was impossible until a few hours before, and it leaves us all feeling a real sense injustice.” Sergio and his family are my first thoughts.”
Today’s meeting of FCA’s board members was to accelerate the transition of CEO to Marchionne following the announcement of Marchionne’s illness. Marchionne stated that he would like to be removed as CEO of FCA in 2019, as he has previously said. Marchionne was Fiat’s CEO from 2004 to oversee the merger with Chrysler and create FCA. He is also the chairman and CEO of Ferrari and CNH Industrial. Ferrari appointed Louis Camilleri, an executive from Philip Morris International to succeed Marchionne.
Elkann stated that “the succession plans we just announced, even though they may not be without pain from an individual point of view, mean that we can guarantee maximum continuity and preserve our unique cultures.” Sergio has been a great friend and colleague over the years. I ask for everyone’s understanding and respect in these situations.