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Sergio Marchionne, the emblematic boss of the Italian-American car group Fiat Chrysler (FCA), also president of Ferrari, is ill and the directors of both groups are summoned Saturday, July 21 to discuss his succession, reports the website Automotive News . It was not possible to join immediately FCA, which, according to several Italian media, has so far refused to comment.
66-year-old Sergio Marchionne underwent surgery in June , officially on the right shoulder. But, according to Automotive News, its unavailability for health reasons may be prolonged. The Italian-American manager took Fiat's command in 2004 and was due to retire next year. According to Italian media, Louis Carey Camilleri, already a member of Ferrari's board of directors and supermodel mate Naomi Campbell, is expected to become general manager of Ferrari, while John Elkann, grandson of Gianni Agnelli, will take over the presidency. 19659002]
Read also – Marchionne: the first Ferrari SUV scheduled for the end of 2019
Uncertainty reigns, however, for the position of Managing Director of FCA. Sergio Marchionne regularly said he would be a man from the group. In April, he said that his name would be known in 2019. "The question of my succession is difficult, but we will find the person suitable and able, have confidence," he had launched. Candidates holding the rope according to the press include Alfredo Altavilla, head of European operations, Jeep boss Mike Manley and FCA chief financial officer Richard Palmer
Reducing the share of diesel
In early June, Sergio Marchionne presented FCA's 2018-2022 plan, which aims to focus on its premium brands, including Jeep, and reduce the share of diesel to hybrid and electric vehicles. The man with the usual sweaters or black polos had then raised a tie to mark the fact that FCA planned to bring to zero its industrial net debt at the end of June. A huge challenge since it amounted to 7.7 billion euros at the end of 2014.
Also read – You take a good Jeep?
Since his arrival in 2004, Sergio Marchionne has deeply reshaped the group, by straightening Fiat, then combining it in 2014 with the American Chrysler, before proceeding in January 2016 to the separation of Ferrari. In 2017, FCA recorded new record results. Sergio Marchionne is also CEO of CNH Industrial. According to Automotive News, the holding company's board of directors also had to discuss its succession, but it was not possible to confirm the information immediately.
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