"End of an era" in Italy with the departure of Fiat boss

He's the "one" of all Italian newspapers this weekend. Gravely ill, the tenor of the Italian automotive industry, Sergio Marchionne, has given way to Fiat Chrysler (FCA) and Ferrari. The press and a part of the Italian political clbad welcomed on Sunday "the end of an era" with the departure of this emblematic boss of Fiat during fourteen years but now "at the end of life" according to several media

"Marchionne, the end of an era", headlined the Corriere della Serra the day after the boards of directors meeting in emergency Saturday afternoon and who designated his successors at the head of Fiat Chrysler (FCA), Ferrari and CNH Industrial, the three groups controlled by the Agnelli family

The end of the era of "Super Marchionne"

This is the end of the era of the "Bulldozer" or "Super Marchionne", two nicknames attributed to the manager appointed in the early 2000s by the Agnelli family to straighten the firm in Turin. In a statement, FCA announces "with deep sorrow that during the week, Mr. Marchionne suffered unexpected complications while he was recovering from an operation, which have seriously worsened in recent hours. As a result, Mr. Marchionne will not be able to return to work "

The directors of the three groups respectively named Jeep bosses Mike Manley and Philip Morris Louis Carey Camilleri to succeed him. 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.

Hospitalized in Zurich since surgery at the end of June with one shoulder, Sergio Marchionne, 66 years, suffered from serial complications until a new "deterioration" Friday, "this time without return. The patient does not react anymore " according to La ​​Repubblica . His latest public appearance dates back to June 27, when the son of a rifleman from Abruzzo handed a Jeep to the riflemen of Rome.

"Marchionne has been a great protagonist of the economic life of the last fifteen years (. ..) He managed to give a future to Fiat when it seemed impossible. He created jobs, not unemployed. Hat " greeted the former head of government Matteo Renzi (center left). A time close to Mr. Renzi, Mr. Marchionne had then distanced himself, but not to the point of leading the right-wing coalition in the March legislative elections as Silvio Berlusconi had tried to convince him.

The current populist government has remained more discreet, even if the Minister of the Interior, Matteo Salvini, leader of the extreme right, sent him his "recognition and respect, as well as his best wishes" .

A deeply remodeled group

The Italo-Canadian manager with the eternal black sweatshirts or polo shirts, who had taken the helm of Fiat in 2004, planned to take the reins of FCA in the course of 2019. He deeply remodeled the group, first by straightening Fiat, by combining it in 2009 with the American Chrysler, while highlighting, on the one hand, the heavy machinery / trucks activities in 2011 to create CNH Industrial, and, on the other hand, the Ferrari jewel in January 2016. John Elka nn, 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 "deeply sad"

Mike Manley, a discreet British 54-year-old Jeep and Ram CEO (pick-up and vans), will be in charge of taking over. He arrived at the head of Jeep in 2009, in a storm in the US auto sector. Under his leadership, the automaker grew from 337,000 vehicles sold in 2008 to nearly 1.4 million in 2017, and targets 1.9 million this year.

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The functions 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 via Scuderia sponsorship.