Former Fiat Chrysler Automobiles
(FCA) CEO Sergio Marchionne is dead.
The 66-year-old took over Fiat in 2004 when the Italian auto
group looked in danger of going to the wall and turned its
fortunes around in spectacular fashion.
Marchionne strung together a series of successes during his
14-year reign, not least the coup in persuading Barack Obama to
back the seemingly improbable merger with ailing US carmaker
Chrysler at the height of the 2007-08 financial crisis.
Under his leadership, the merged company went from strength
to strength.
"Unfortunately, what we feared has come to pass. Sergio
Marchionne, man and friend, is gone," said John Elkann, the
president of the Agnelli-Elkann family holding company Exor.
"I believe that the best way to honor his memory is to build
on the legacy he left us, continuing to develop the human values
of responsibility and openness of which he was the most ardent
champion.
"My family and I will be forever grateful for what he has
done.
"Our thoughts are with Manuela, and his sons Alessio and
Tyler.
"I would ask again everyone to respect the privacy of
Sergio's family".
Marchionne was replaced as FCA CEO by Mike Manley at an
energy board meeting at the weekend after his condition
deteriorated following a shoulder operation in a Zurich
hospital.
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