The former CEO passed away Wednesday due to complications from shoulder surgery.
Former Fiat Chrysler CEO Sergio Marchionne passed away early Wednesday due to complications from shoulder surgery, Bloomberg reports. The man at the center of post-bailout operations at FCA was due to retire in 2019. He was 66.
According to Automotive News, a report from Italy late Tuesday indicated that Marchionne suffered an embolism after “high-risk” surgery to remove a sarcoma in his shoulder in late June.
When the severity of his condition became known to the company, FCA’s board of directors held an emergency meeting to appoint his successor.
On Saturday, the board announced that former Jeep boss Michael Manley would take the reins.
Marchionne’s leadership style was abrupt (bordering on ruthless), but he will be remembered for bringing Fiat SpA back from the brink of insolvency and leaving behind a company with little meaningful debt and some of America’s most prolific (and profitable) model lineups.
In media circles, Marchionne was known for blunt responses to inquiries and a casual fashion sense.
The latter was so appreciated by the industry that Fiat gave away branded sweaters to attendees at the U.S. launch of the Fiat 500 in 2011–the introduction which marked the return of Fiat to the U.S. market after nearly 30 years.
The former CEO passed away Wednesday due to complications from shoulder surgery.
Former Fiat Chrysler CEO Sergio Marchionne passed away early Wednesday due to complications from shoulder surgery, Bloomberg reports. The man at the center of post-bailout operations at FCA was due to retire in 2019. He was 66.
According to Automotive News, a report from Italy late Tuesday indicated that Marchionne suffered an embolism after "high-risk" surgery to remove a sarcoma in his shoulder in late June.
When the severity of his condition became known to the company, FCA's board of directors held an emergency meeting to appoint his successor.
On Saturday, the board announced that former Jeep boss Michael Manley would take the reins.
Marchionne's leadership style was abrupt (bordering on ruthless), but he will be remembered for bringing Fiat SpA back from the brink of insolvency and leaving behind a company with little meaningful debt and some of America's most prolific (and profitable) model lineups.
In media circles, Marchionne was known for blunt responses to inquiries and a casual fashion sense.
The latter was so appreciated by the industry that Fiat gave away branded sweaters to attendees at the U.S. launch of the Fiat 500 in 2011--the introduction which marked the return of Fiat to the U.S. market after nearly 30 years.
