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Rome – The ill-fated Italian car industry Sergio Marchionne gives way to Fiat Chrysler (FCA) and Ferrari, who named Jeep bosses Mike Manley and Philip Morris respectively on Saturday. Louis Carey Camilleri, to succeed him.
million. Marchionne was also president of CNH Industrial and will be replaced by Britain's Suzanne Wood, the latter announced from the three groups controlled by the Agnelli family.
In a statement, FCA announces " with deep sorrow that during the week, Mr. Marchionne suffered unexpected complications while recovering from surgery, which have seriously worsened in recent hours. Marchionne will not be able to return to work ".
The administrators of the three groups met in an emergency on Saturday afternoon to discuss this anticipated succession.
Mr. Marchionne, 66 years old, underwent surgery in June, officially on the right shoulder. His last public appearance dates back to June 27, when the son of a rifleman from Abruzzo handed a jeep to the riflemen of Rome.
The Italo-Canadian manager with the eternal black sweatshirts or polos, who had taken Fiat's command in 2004, planned to take the reins of FCA in the course of 2019.
In 14 years, he has profoundly remodeled the group, first by straightening Fiat, combining it in 2014 with the American Chrysler, while detaching on the one hand the heavy machinery / trucks activities in 2011 to create CHN Industrial and on the other hand the jewel Ferrari in January 2016.
John Elkann, grandson of Gianni Agnelli and CEO of Exor, the family holding company which holds nearly 30% of Fiat, 27% of CNH Industrial and 23% of Ferrari, said to himself " deeply sad ".
" This is a situation that was unthinkable a few hours ago and leaves us all with a real sense of injustice My thoughts go first to Sergio and his family ", he said in a statement from FCA.
– Jeep in the heart of the strategy –
It is thus Mike Manley, discreet British of 54 CEOs of Jeep and Ram (pickups and vans), which will be in charge to take the relay.
He arrived at the head of Jeep in 2009, in a storm in the US auto industry. Under his leadership, the manufacturer has grown from 337,000 vehicles sold in 2008 to nearly 1.4 million in 2017, and targets 1.9 million this year.
According to Morgan Stanley, Jeep alone is expected to account for nearly 70% of FCA's profits this year.
And he is at the top of the brands " Premium " – with Alfa Romeo or Maserati – which are at the heart of the strategic plan 2018-2022 presented by M. Marchionne at the beginning of June, parallel to the development hybrid and electric cars.
" As FCA has been looking for a successor for some time, and the successor has been involved in the development of the recently announced five-year plan, the transition could still be smooth ," he said. for AFP Stephanie Brinley, Automotive Expert at IHS Markit.
This transition could also be facilitated by the tone of FCA, which recorded new record results in 2017 and reduced its industrial net debt to zero at the end of June – compared to 7.7 billion euros at the end of 2014. [19659003OnthesideofFerrarialsothefinancialresultsaremorethansatisfactory:thefamousmarkwiththeprancinghorsewhichvoluntarilylimitsitsproductiontomaintainitbadclusivecharacterrealizedin2017aturnoverof3417billioneuros(+10%)andanetprofitof537millioneuros(+34%)
The duties of Mr. Marchionne at Ferrari will now be split: John Elkann becomes president, while Louis Camilleri is appointed managing director.
Born in 1955 to a Maltese family in Alexandria (Egypt), Mr. Camilleri joined Philip Morris in 1978 and since 2002 has been the CEO of this group closely linked to Ferrari through the sponsorship of Scuderia.
Since last year, he has been on the tabloids so often because of his affiliation with supermodel Naomi Campbell.
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