Fiat Chrysler head resigns

Author: Dimitri Lagun
Date: 24.07.2018

Fiat manager Manley takes over position

Seregio Marchionne, head of the Italian-American car maker Fiat Chrysler, resigns. Due to unexpected complications from a shoulder operation, the 66-year-old said he could no longer work. The positions of President and CEO of the subsidiary Ferrari also change, as it was said in a Ferrari statement.

Mikey Manley takes over Marchionne’s job. Previously, he was responsible for the Jeep brand and has been part of Fiat Chrysler’s top management for many years. John Elkann, a member of the Agnelli family, which is involved in the Fiat group with a big part, previously represented the position of Fiat president. Now the presidential position at Ferrari is added.

New, appointed by the Supervisory Board, Ferrari CEO is Louis C. Camilleri. He previously held various senior positions at the tobacco company Philip Morris.

The chief post of Marchionne at Fiat Chrysler was actually scheduled for 2019. In 2004, when Fiat experienced its biggest crisis, he came to the forefront of the company. Later, the US rival Chrysler who was also in a crisis was taken over.

With partly unconventional ideas, as the mirror reports, the now 66-year-old helped the company to a new upswing. He removed the bureaucracy and halved the development times for new models. When it came to allegations that Fiat would cheat on the emissions, he said with a look at VW: “Who compares us with the German company has smoked something illegal.”

Through him, the brand Ferrari was successfully launched on the stock market. His last move was the cooperation with South Korean rival Hyundai to work together on future technologies.

Even the big goal of the debt freedom of the enterprise was reached by Marchionne at the end of July.