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Esteemed and feared: Sergio Marchionne Fiat Chrysler (FCA) chief, after 14 years separates from the Italian car manufacturer. Health problems are forcing the top manager, who rescued Fiat from bankruptcy and turned it into a multinational, to leave the group prematurely. His successor is the Englishman Mike Manley as confirmed by the CAF Board of Directors. Manley, 54, has been the boss of the American Jeep brand since 2009.
Marchionne, 66, would not have abandoned the Fiat scepter until next spring after presenting the results in 2018 and will continue to show up. to be the president of the Ferrari girl want. Health problems thwarted Italian Canadians.
Marchionne was operated on in early July. Since then, he has not appeared in public anymore. The supervisory board of Fiat and Ferrari appointed Saturday on the occasion of a special meeting top manager Mike Manley, 54, who succeeded Marchionnes. It's the end of an era for the world's seventh largest automaker.
When Marchionne, then 51, entered his office in Turin in June 2004, hardly anyone knew him. He was world market leader in SGS certification before being called to Fiat. In Turin, the son of a rifleman from the mountainous Abruzzo region, who immigrated to Canada at the age of 14, found himself in a catastrophic situation.
Agbelli Agbelli, Umberto Agnelli, president and last patriarch of the dynasty, died. CEO Giuseppe Morchio, who wanted to join Fiat's new president in place of the deceased, resigned in protest because Agnelli's heirs had denied him a career jump. Two million euros a day have lost the group, arrived at the edge of the abyss. Marchionne stood in front of a pile of chips.
With severe austerity measures and new car models, Marchionne restores its pride as a traditional Italian company to the bankruptcy candidate. For the man with the round face and the glbades, who loved to behave in an unconventional way, but reigned internally with a firm hand and uncompromising behavior, it was only the first step. After a dispute with the Viennese manager Herbert Demel, Marchionne personally took over the direction of the Fiat automobile division in 2005.
© Ferrari SpA / LaPresse / Lussoso
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A few months after his arrival in Turin, Marchionne announced his vision: to the future, there would be more than five or six major manufacturers giving in the world. The confident manager, who also appears in front of an upscale auditorium in woolen sweaters, has brutally implemented his survival strategy for the struggling automaker in recent years. He did not hesitate to make unpopular decisions to rehabilitate Fiat, reduce internal bureaucracy and drastically reduce the time of development of new models. He reorganized the company for over 100 years and put it back in the dark. In particular, the cooperation with the American Chrysler Group, which Fiat completely resumed in 2014, has proved to be the best step of Marchionne's spectacular career
. The father of two girls has received a lot of praise and at the same time many enemies. His above-average, inspiring but sometimes demanding and aggressive ambition enabled him to overcome all the problems of the IMF, the left-wing trade union federation, which has a say in Fiat's Italian production plants. Among the workers, Marchionne was not particularly popular because of his approach, which takes little account of the role of the unions. Above all, the Italian workforce worried that following the takeover of Chrysler, five Italian sites could be removed and relocated abroad. Marchionne also criticized the decision to relocate the Turin headquarters to London [2014]. In 2014, he dethroned Ferrari's long-time boss, Luca Cordero di Montezemolo, who no longer succeeded in Formula 1 and took over the reams of the luxury car group. Ferrari was seconded from FCA in 2015 and was successfully launched at the Milan Stock Exchange in 2016.
Sergio Chiamparino, President of Piedmont and former Mayor of Turin, praised Marchionne for his talent renovator. "Marchionne has not only found a way to save Fiat, but also to make it a global company, and at the same time developed a strategy to make the workforce more flexible and more effective in the face of competition. world, "explains Chiamparino. his successor a solid company. The highest paid Italian manager had presented FCA's development plan until June 2022, which provided for investments of 45 billion euros. Calculated with an annual sales growth of 7% on average. Sales of the Jeep, Alfa Romeo, Maserati and Fiat Professional brands increased by 65% to 80%. FCA wants to invest 9 billion euros to offer its models in the electric version. By the end of 2021, FCA will no longer produce diesel cars. FCA has been debt free since the end of June.
The automotive group will soon begin to implement the spin-off plan of the supply company Magneti Marelli. The intention is to split the company and its IPO. The subcontracting of the subsidiary, which should be completed in early 2019, will allow Magneti to continue growing. (APA / red)
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