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The transition was prepared, but the hurried departure of Sergio Marchionne leaves some doubt about the future of Fiat Chrysler (FCA) and the ability of the dolphin-named, the British Mike Manley, to lead this multinational still very Italian.
"The concern for the very life of one of the most esteemed managers in the world mingles with legitimate questions about the future of the seventh largest automobile group in the world, which has embodied in the history of our country the idea even of modern industry ", wrote Sunday morning Dario Di Vico, editorialist of the Corriere della Sera, the first Italian daily.
While titling on" the end of an era ", the Italian press raised in a way general continuity of succession: the four leaders appointed to take over the caps of this workaholic at FCA, Ferrari and CNH Industrial were all already involved in these groups controlled by the family Agnelli
Starting with Mike Manley, the boss of Jeep, who takes over the reins of FCA. The unbaduming British driver to Jeep in the middle of a crisis in 2009 has made him the jewel of the group: Jeep should, according to Morgan Stanley alone represent nearly 70% of the profits of FCA this year.
In a letter on Sunday to all FCA employees, his president John Elkann, Umberto Agnelli's grandson, expressed his confidence in Mr. Manley
"We began years ago to work on a succession plan that guarantees continuity and preserves the unique culture of FCA, "he badured. "Mike was one of the main contributors to FCA's success and he has a long list of prowess behind him."
– "A terrible news" –
For Florian Delègue, Heidrick & Struggles headhunter specializing in the automobile, this appointment is "a good surprise."
M. Manley "is not a newcomer, he is the successful man of the Fiat group". And even if he is not Italian, "he is a foreigner very accultured to Fiat."
However, Mike Manley is not Sergio Marchionne, the child of Abruzzo become Canadian, a graduate in law, in management but also in philosophy, which managed to conquer politicians, media and trade unionists, especially in Italy.
In 14 years, it has deeply reshaped Fiat, first by straightening it and then combining it in 2009 with the American Chrysler.
"Without Sergio Marchionne, Chrysler and Fiat would not have survived," said Davide Cole, president emeritus of the Michigan Center for Automotive Research, in an interview Sunday at the newspaper La Stampa, close to the Agnelli family
"His charisma, his energy, his determination, his communication skills and his strategic vision were essential," he adds.
An opinion shared by several union representatives in Italy. "This is terrible news," responded the Cisl. "We had differences (…) but together we challenged the lazy little Italy who prefers to close the factories rather than roll up the sleeves."
– "Important appointments" –
Silence for the the moment of the CGIL and the Fiom, which were harshly opposed to Mr. Marchionne, but even the story of UIL and the Uilm.
"It has often been said that Marchionne's extraordinary ability to to create value and to make profits, but it was the same for its ability to safeguard the industrial heritage and employment ", noted the two unions.
If the FCA group has 159 factories across the country. 27% of its 236,000 employees work in Italy. However, "important appointments await us, as the badignment of models to the Italian factories and the renewal of the collective contract," warned UIL and Uilm.
For Ferdinand Dudenhöffer, researcher specialist of the at the University of Duisburg Essen, Mr Manley is "a man of cars, and to lead Fiat Chrysler, that's not enough."
In Italy, he will have to "negotiate with the unions, the policies, the Agnelli family ". "He's going to have to make a lot of compromises" and "he will not be able to make bold decisions."
But it's a boldness and vision that FCA will need to face the challenges that are waiting, starting with the threats of US President Donald Trump on trade and the strategy to develop electricity, for which many experts mention the need for new alliances.
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