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Sergio Marchionne, the emblematic boss of the Italian-American car group Fiat Chrysler (FCA), also president and director of Ferrari, is ill and the directors of both groups are summoned Saturday to discuss his succession, according to the site Automotive News.
Neither FCA nor Ferrari wished to confirm this information. According to Bloomberg, the meeting has already started on Friday.
See also: Sergio Marchionne, the strategist who remodeled Fiat (2014)
According to the site specialized in the automobile industry, which quotes an anonymous source, Louis Carey Camilleri, one of the Ferrari directors and former boss of Philip Morris International, will become the director of the sports car manufacturer. His future president could, according to the same source, be John Elkann, grandson of Giovanni Agnelli and main shareholder of Ferrari and FCA, via the holding Exor.
In convalescence
Sergio Marchionne, also chairman of the board of the Geneva-based SGS, is 66 years old. According to the latest official news, dated July 5, he is currently recovering from a shoulder operation. He has already begun preparing for retirement, scheduled for next year.
Richard Palmer, FCA's chief financial officer since 2011, is considered the favorite to succeed Sergio Marchionne as head of the Italian-American group the merger of two builders who both went bankrupt in the 2000s. In any case, he is the one who will chair the emergency meeting, badures Bloomberg .
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