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Sergio Marchionne will not be able to return to work . The health conditions of the director, who has undergone surgery in recent weeks, are now very serious because of unexpected complications during convalescence.
For many, Sergio was an enlightened leader, an incomparable reference point. For me it was a person to compare and trust, a mentor and especially a friend. That's what John Elkann president of the FCA said. I am deeply saddened by Sergio's condition. This is an unthinkable situation until a few hours ago, leaving everyone feeling unjust
. My first thought goes to Sergio and his family. Elkann asks everyone to understand the current situation, respecting the privacy of Sergio and his relatives.
The agenda of new CEO Manley
meanwhile at work Mike Manley, the new CEO of FCA. The first meeting on the agenda, after the revolution at the summit, the meeting in Turin, the Lingotto, tomorrow and Tuesday, the GEC (Group Executive Council), decision-making body of the group, composed of the heads of the sectors Operational and some Heads of Office and headed by the CEO. In all, twenty top managers refer to Manley. The GEC-articulated in four main structures: regional areas, brands, industrial processes, bodily functions – meets once a month in different locations and the choice of Turin has already been made. The accounts of the second quarter of 2018 of FCA will be announced the next day those of Cnh Industrial
Letter from Elkann to employees: Eternally grateful to Sergio
We will be eternally grateful to Sergio for the results that he managed to achieve and make possible what seemed impossible. He taught us to have courage, to question the status quo, to break the mold and to go beyond what we already know. FCA President John Elkann wrote to the group's employees in a letter sent after the appointment of Mike Manley. I am certain that you will bring Mike maximum support, working with him and the management team to achieve the goals of the 2018-2022 business plan with the same commitment and integrity that we have guided to here.
Fourteen years at Lingotto
Someone was ready to bet that in the end, in 2019, he would not leave because it was hard to imagine for Fca a "After Marchionne". But he, the philosopher director who, in 2004, was able to embark on an impossible venture, save Fiat from bankruptcy and restore it, worked until the end to refine the plans of the future.
On the first of June, he had illustrated them to Balocco, a long and tiring day, which still did not predict what had happened. Born in Chieti 66 years ago, son of a Marshal of Carbinieri, Sergio Marchionne left the reins of FCA, Cnh Industrial and Ferrari ahead of schedule and still confirmed.
A man capable of making unpopular choices, protagonist of the frontal confrontation lasts with the Fiom, in the factories and in the hearing rooms, at the knot of the governability of the factories against the generalized absenteeism and microconflittuality. A condition for investing in Pomigliano then in Mirafiori, where the majority of workers approve the agreements. Another front, intended to redraw the industrial relations, Marchionne opens with Confindustria announcing the end of 2011 the exit of the badociation. A sensational decision because at the beginning of the '900 Fiat had been one of its founding members.
Marchionne outside the FCA, the industrial and financial effects of the end of an era
Studies in Canada (three degrees in Philosophy, Economics, Law and Master of Business Administration), domiciled in Switzerland, where lives the ex-wife, two sons, Marchionne, the man in the black sweater , has lived the last years between Turin and Detroit, leading the "revolution" that led to the stock exchange Cnh Industrial and Ferrari. In Maranello, where he took the reins of the Red in 2014, he should have stayed until 2021, two years after the farewell to the FCA.
A manager at the center also of world political relations, from Obama to Trump, who in Italy rejected Silvio Berlusconi's invitation to run with the center-right and spent a long honeymoon with former Prime Minister Matteo Renzi from whom he then moved away.
Umberto Agnelli had brought him to Turin Marchionne, who had met him at SGS and had wanted him to the board of directors. On June 1, 2004, a few days after the death of Umberto, the man chosen to lead the rebirth, with Luca di Montezemolo as president and John Elkann as vice president. On the financial side, the Italian-Canadian manager's first successes are the break-up of the alliance with GM, which prevents the purchase of Fiat Auto by the American house and the agreement with the banks on the conversion of 3 billion euros, thanks to the fact that the Agnellis retain control. Marchionne, who also took charge of the car on February 17, 2005 (Cesare Romiti held both seats), launches the Grande Punto in Turin and launches a plan that provides for investments of 10 billion by 2008. [19659015] Marchionne, the intrepid general of 1 billion profits per year
The 2005 accounts are those of the recovery: the group records, for the first time in five years, a profit of 1.4 billion and the result of ordinary operations twenty times that of 2004. When the 2006 accounts are presented , Marchionne speaks of a Fiat finally emerging from the emergency and sealing the revival on July 4, 2007, the new 500 presented a big party in Turin. The crisis of 2008 forces Lingotto to change projects and requires mbadive recourse to redundancies. 2009 – admits Marchionne – will be the most difficult year of my life because the conditions on which we defined our programs were swept away. 2009 also for the year of the Chrysler bailout of bankruptcy, with the negotiation with the US Treasury and American unions and the blessing of President Barack Obama. The operation that gave birth to Fiat Chrysler Automobiles, sixth largest global car manufacturer, with a tax seat in London and a head office after 115 years of Turin in Amsterdam, listed in Milan and Wall Street.
Last act at Balocco in the FCA Capital Market Day announcement of the goal of zero debt and a 45 billion euros investment plan with the premium cars of the center
and the car of the future.
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