The head of Fiat and Ferrari must leave

An earthquake shakes Fiat Chrysler (FCA). The Italian-American carmaker has appointed a new chief to replace Sergio Marchionne, in office since 2004, at a meeting of the board of directors suddenly convened Saturday, whose health had worsened in previous hours.

Marchionne can not return to his professional life, the Supervisory Board said. The successor of the FCA Empire's Jeep brand boss, Mike Manley, has been named. Born in 1964 in Edenbridge, England, Manley is the only senior executive in the firmament of the FCA, not the Fiat Empire, but Chrysler. He is also responsible for the RAM pick-up brand since October 2015.

AP / Carlos Osorio

Mike Manley takes the lead of Fiat Group

Under Manleys Leadership, Jeep 2017 sold 1.4 million vehicles. In 2009, 337,000 were sold. Manley, along with director Alfredo Altavilla and CFA CFO Richard Palmer, was a promising candidate for Marchionne's estate, who last played publicly on June 27th.

Ferrari also changed hands

FCA was looking for a 66-year-old successor to Marchionne, the FCA did not actually leave in the spring of 2019 until after the Group's results were presented in 2018 and wanted to focus on the luxury car manufacturer Ferrari. The health problems have made Marchionne but a line through the bill. The CEO was operated on in early July and has since been in a Swiss clinic, according to media reports. However, its condition has worsened considerably in recent hours

. The subsidiaries FCA Ferrari and CNH Industrial also change sides. Louis Carey Camilleri, a Swiss manager of Maltese origin, is the new CEO of Ferrari. John Elkann, who is in the same position at Fiat Chrysler (FCA), will take over as Chairman of the Board, said FCA. Suzanne Heywood becomes chairman of the Board of Directors of commercial vehicle builder CNH Industrial instead of Marchionnes, said the board of directors of the commercial vehicle builder. Derek Neilson will continue to serve as Acting Chief Executive Officer.

Years "full of success and difficulties"

Elkann explained that he and Marchionne had lived "full of success and difficulties" for 14 years. "These were unique and irreplaceable moments from a personal and professional point of view.M Marchionne taught us the courage to change, even in an unconventional way.He always acted with a sense of responsibility towards the & # 39; 39, company and its employees, "said Elkann, heir to the entrepreneurial family Agnelli, majority shareholder of FCA.

In a letter to the group's employees, Elkann expressed his consternation on Sunday. "First at Fiat, then at Chrysler and more recently at FCA, Marchionne was the best CEO we could ask for – he was a true mentor, a colleague and a friend. In one of the darkest stages of Fiat's history, thanks to his intelligence, perseverance and leadership, we were able to save the company, "writes Elkann. The president has summoned employees to support Manley. Manley was a protagonist of the new course at FCA. He has badumed increasing responsibility in the group. Elkann was convinced that the new CEO would reach the new goals of the development plan by 2022.

Marchionne had taken over Fiat's helm in 2004 and saved the company in trouble. Under his leadership, Fiat merged with Chrysler in 2014, making the Turin Group the seventh largest car manufacturer in the world. At the beginning of June, Marchionne had presented the new FCA investment plan until 2022. This calls for investments of an amount of 45 billion euros. Since then, Marchionne had not appeared in public, which had fueled rumors of his ill health.

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