Ex-Fiat Chrysler boss Sergio Marchionne dies, aged 66

28 July, 2018, 00:56 | Author: Felix Jensen
  • F1 Grand Prix of Italy- Qualifying

The Wall Street Journal said Marchionne was a "star of the auto industry and his death ends an era for Detroit where he was one of the untouchable CEOs".

Just days after it was announced that he was stepping down as FCA chairman and Ferrari president, Sergio Marchionne has passed away aged 66.

Fiat Chrysler Automobiles' (FCA) shares plummeted more than 10 per cent on the Milan stock exchange Wednesday and its shares were suspended, after the Italian auto giant published disappointing quarterly results, agencies including Bloomberg, Reuters and AFP said.

Fiat pushed that change on Chrysler - and everyone benefited, he said.

"The biggest challenges we face and frankly we're going to continue to face. are all focused in China", Manley said. He really was a unique human being. "On behalf of the Automobile Club de l'Ouest, may I extend my honest condolences to his family, friends, acquaintances and colleagues".

During his 14 years at the helm, Sergio Marchionne is credited with revamping the Fiat company and bringing it back from the brink of bankruptcy. "On behalf of the entire FIA community, all my thoughts go out to his family, his friends and his Ferrari and Fiat-Chrysler group teams".

"We received the news this morning that Sergio had passed away", Manley stated at the beginning of the conference call, "and clearly, this is a very sad and hard time, and our thoughts and prayers go out to Sergio's family, friends and colleagues". Fiat Chrysler's five-year plan to double profit is dependent on a rapid expansion of the brand in the world's largest automotive market, and sales in Asia regressed.

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Tributes poured in for Marchionne. We have a lost a huge supporter of our sport, a fierce competitor, an ally and a friend. The company has not provided details on Marchionne's illness. "I salute the memory of a great captain of industry who will remain an example for us all".

Paris - Sergio Marchionne, the emblematic head of FIAT Chrysler who helped reignite mighty Ferrari as a Formula 1 superpower, was described as a "colossal visionary" on Wednesday as the sport mourned his death. His partner, Manuela Battezzato, works in Fiat Chrysler's press office.

Manley said Altavilla's "departure was unfortunate, but it was not unforeseen". Whether it was popular or not or whether there was consensus in the company or not, he would pursue that. The bankruptcy of Chrysler gave him the opportunity to create a global vehicle company with brands including Jeep, Ram, Alfa Romeo, Ferrari and Maserati that he envisioned would grow to 6 million cars a year.

Of course, under Marchionne's time atop FCA, he also worked to relaunch the Fiat and Alfa Romeo brands in the United States while also rebuilding the Maserati brand.

"If he did not like what he saw he made sure you knew.When he liked it, it came with a cliffhanger 'what the f.is this? - it looks amazing!'" Busse wrote.

Jetting between the company's offices and design studios in Europe and the United States, Marchionne dominated Fiat Chrysler, eclipsing the executives under him. Here he is pictured in 2015, the day he took Ferrari public. Marchionne has been an adversary whose value we recognize. Our deepest condolences to his family and friends.

The colourful and charismatic Marchionne became chairman of Ferrari in September 2014, replacing Luca di Montezemolo. "He will be truly missed!"

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