Sergio Marchionne, the former head of Italo-American carmaking giant Fiat Chrysler has died aged 66, his former company has said. Once FCA was notified of Marchionne's ailing health conditions, the board accelerated the naming of a successor, electing Englishman Mike Manley to the role of CEO, with Agnelli-protege John Elkann acting as FCA president and Ferrari chairman.
Fiat Chrysler's visionary boss Sergio Marchionne has died, after having driven the Italian auto giant to success for 14 years, holding company Exor announced Wednesday.
"Marchionne wrote an important page in the history of Italian industry".
He was handpicked by the U.S. government to save Chrysler and is credited with turning the dysfunctional companies into the world's seventh-largest automaker.
"We at General Motors offer our condolences to Sergio Marchionne's family and friends".
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Born in Italy in 1952, he moved with his family to Canada when he was 13, completing his education there.
As Fiat Chrysler heads into what most industry executives and analysts predict will be a hard 2019, the automaker's Italian brands have lost a powerful champion with Marchionne's departure. He was due to step down at Fiat Chrysler in April 2019.
Jetting between the company's offices and design studios in Europe and the United States, Marchionne dominated Fiat Chrysler, eclipsing the executives under him. Marchionne's last public appearance was on June 26 where those on hand noted he seemed breathless and not in the best state. In 1994, Marchionne joined Alusuisse Lonza Group Ltd. after the Swiss chemical and pharmaceutical company acquired Lawson.
He dedicated himself fully to turn around the FIAT-Chrysler group and put all his energy to bring Scuderia Ferrari back to the top.
"With Sergio Marchionne Italy loses not only the most brilliant of its managers, but one of the symbolic figures of our country". Marchionne is survived by his sons Alessio and Tyler, and his longtime partner Manuella Battezzato.