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Rome – The transition was ready, but the hurried departure of Sergio Marchionne casts doubt on 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 very idea of modern industry ", wrote Sunday morning Dario Di Vico, editorialist of Corriere della Sera, the first Italian daily.
While claiming " the end of an era ", the Italian press generally noted the continuity of succession: the four leaders appointed to take over the multiple caps of this executioner FCA, Ferrari and CNH Industrial were all already involved in these groups controlled by the Agnelli family.
Starting with Mike Manley, the boss of Jeep, who takes over the reins of FCA. The unbaduming British driver to Jeep in the midst of a crisis in 2009 has made it 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 to all FCA employees on Sunday, President John Elkann, grandson of Umberto Agnelli, 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 feats behind him ".
– " A terrible news " –
For Florian Delègue, a Heidrick & Struggles headhunter specializing in automobiles, this appointment is " a good surprise " .
million. Manley " is not a newcomer, he is the successful man of the Fiat group ". And even if he is not Italian, " he is a stranger very accultured to Fiat ".
However, Mike Manley is not Sergio Marchionne, the child of Abruzzo became a Canadian, graduated in law, management but also in philosophy, who managed to conquer politicians, media and trade unionists, especially in Italy.
In 14 years, he 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 ," says 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 moment of the CGIL and the Fiom, who have strongly opposed to Mr. Marchionne, but even the sound of the bell UIL and Uilm.
" Marchionne's extraordinary ability to create value and make profits was often mentioned, but so did his ability to safeguard industrial heritage and employment ", noted the two unions.
If the FCA group has 159 factories around the world, 27% of its 236,000 employees work in Italy. However, " important appointments await us, as the badignment of models to Italian factories and the renewal of the collective contract " warned UIL and Uilm.
For Ferdinand Dudenhöffer, an automotive researcher at the University of Duisburg Essen, Mr. Manley is " a car man, and to run Fiat Chrysler, that's not enough ".
In Italy, he will have to " negotiate with the unions, the politicians, the Agnelli family ". " He will have to make a lot of compromises " and " he will not be able to make bold decisions ".
However, it is boldness and vision that FCA will need to face the challenges ahead, starting with the threats of US President Donald Trump on trade and strategy for developing electricity , for which many experts mention the need for new alliances.
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