[ad_1]
Fiat Chrysler Automobiles NV appoints Mike Manley to head its Jeep and Ram brands, replacing Sergio Marchionne, who is forced to abandon the job after 14 years of complications due to a surgery. the shoulder
. The sudden departure of the executive that saved Fiat and Chrysler and then forged a profitable transatlantic operation will also require the selection of new executives at Ferrari NV and CNH Industrial NV, according to people close to the record who asked not to be named confidential questions. The two companies were detached from Fiat during the tenure of Marchionne
Manley, a 54-year-old Briton, is behind the extraordinary success of the Jeep brand's global expansion. It will start immediately, according to a company statement Saturday. Manley joined Chrysler in the UK in 2000 when the automaker was part of Daimler, and was appointed to head Jeep at the time of Fiat's acquisition in 2009, driving the transformation of the iconic American brand into a vending machine. Analysts estimate that the Jeep alone could be worth the total market value of Fiat Chrysler $ 30 billion.
Marchionne's health has "deteriorated significantly in recent hours" and he will be unable to return to work. His illness accelerated the timing of a decision on the estate that was already considered a crossroads for the company. Who would lead the company was only the first of a number of crucial choices – such as whether to remain independent – in the face of President John Elkann, heir to the founding family Agnelli.
Read More : A Chronology of the Transitional Transition of Fiat Chrysler by Sergio Marchionne
"I am deeply saddened to learn the state of health of Sergio, "said Elkann in a separate statement. "It's an unthinkable situation until a few hours ago, and that leaves us all a real sense of injustice."
At the April general meeting, Elkann and Marchionne both declared that Fiat Chrysler was now strong enough to survive on its own and no longer needs a partner. Fiat reiterated this point of view today. Manley and his team will proceed with the implementation of the 2018-2022 business plan as presented on June 1 of this year, which will further enhance the FCA's "strong and independent" future.
Past
By choosing Manley, Fiat's board of two other internal candidates – Alfredo Altavilla, a close collaborator of Marchionne and a Fiat veteran who oversees operations around the world and now manages the European car maker's business , and chief financial officer Richard Palmer, who is well known on Wall Street The company's operations after the merger with Chrysler
Manley had already been charged with the biggest work of Fiat Chrysler's five-year plan unveiled by Marchionne on June 1: Doubling the volume of Jeep sales by 2022 of the 1.4 million vehicles sold last year. He needs to increase his sales by 40% this year to reach the $ 2 mark that Marchionne promised to Jeep in 2018.
Manley shares with Marchionne a very direct style and a penchant for casual wear. He dodged the question of whether he was ready to take the highest position, always saying that he was concentrating entirely on his Jeep work.
Rumpled Sweaters
Marchionne, known for his crisp sweatshirts and nonstop work habits by Carlos Ghosn of Renault-Nissan-Mitsubishi for longevity as automotive CEO. He was named in 2004 as the fifth Fiat leader in a two-year period. He managed to bring back the automaker, which had lost more than 6 billion euros ($ 7 billion) in 2003, to profit in 2005 by cutting costs and firing workers, then looking for a partner .
2014, Marchionne gave Fiat the global reach needed to survive. Yet, as the seventh largest global automaker, the company may lack the size it needs to compete in an industry reinvented by the emergence of autonomous driving and electrification.
Fiat Chrysler is asking questions about Marchionne's health – His last public appearance took place on June 26, during an event in Rome. The company said on July 5 that the CEO was undergoing surgery on his right shoulder and that he was demanding "a short period of recovery".
his shoes will not be easy. The executive is considered one of the most highly skilled artists in the industry, not only saving Fiat from a potential collapse, but later its acquisition of Chrysler, which n? probably would not have received support from the US government for his 2009 bankruptcy without the involvement of his Italian.
Night Flights
Marchionne was known for being rarely rested, often sleeping on his privatejet's couch while he was traveling one night in the offices of Turin, Detroit and London. Weekend meetings were part of the routine for the executive, who preferred black jerseys to elegant suits so as not to waste time in the morning deciding what to wear. He drank volumes of espressos every day and was a Muratti cigarette smoker before resigning about a year ago.
In recent months he was preparing to slow down but wanted to first complete the five – year plan to rid the debt, putting it in a position to survive the next industry crisis. "I'm a fixer, until something is definitely fixed I can not stop," he said.
Shaking Things Up
Marchionne continued to Shaking up the industry with controversial moves that still have not seduced him. Chrysler stopped making most Pbadengercars 2016 to focus on SUVs, a decision that was followed by Ford Motor Co. and General Motors Co. In Europe, Marchionne abandoned mbad production, transforming the Turin plant that produced 500,000 cars a year.The 1970s to what will now be an SUV niche producer Alfa Romeo and Maserati. [19659002] It also focuses on creating brands, turning Ferrari into a separate trading company, a decision that has greatly enriched shareholders, especially the Agnelli family.The Jeep, which produced about 300,000 cars in 2009, is now a global brand which will sell about 2 million vehicles this year after being developed in Europe, China, India and South America. The brand needs a global growth of more than 40% by 2018 to achieve its goals.
Marchionne has been hearing for years about the need for industry consolidation. His plan to create with General Motors the world's largest automaker was postponed in 2015. Since then, He and Elkann have decided to focus on the most lucrative SUVs and higher margin brands
& # 39; No Script & # 39;
Marchionne presented his latest plan for the automaker. "FCA's origins are a group of Fiat and Chrysler that have faced the toughest situations in the last 10 to 15 years and have faced the threat of losing their dignity by losing their jobs," said Marchionne. Marchionne can leave a script or an instruction The answer is that there is no script or instruction FCA is a culture of leaders and employees who are born of adversity and who work without partitions, that's the only way we know. "
Source link
