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While slowly stirring up the reactions and badyzes on the disappearance of the former Fiat-Fca CEO Sergio Marchionne, some questions remain: what is the real cause of his death? And why has the company not been informed of its actual state of health? In short, many mysteries linger over the history of the super manager who led the Lingotto group for 14 years
The Hospital Communiqué
Yesterday Universitatsspital the Zurich Hospital where Marchionne was hospitalized, issued a statement stating that " for more than a year, he regularly went to our hospital to treat a serious illness.In spite of the use of all the treatments offered by medicine the most avant-garde, Mr. Marchionne unfortunately failed . "The Swiss hospital had not given information before and even now it no longer gives new barricades behind the secret The health facility , however, has been "the subject of different tendentious voices on the part of the media regarding his treatment" and forced to intervene "to curb the succession of new speculations".
The confusion of the CAF
seems to have caught the Fca – – disconcerted, almost "under the shock of astonishment" off guard. For this reason, a spokesman – according to news agencies – explained that the company "can not comment" and that "for reasons of confidentiality, the company had no knowledge of the facts regarding the health of the company. Dr. Marchionne ". He claims to have learned that the director "had undergone surgery" and issued a statement about it. "On Friday, July 20 – he adds – the company was informed by Dr. Marchionne's family without any details of the serious deterioration of his condition and that as a result he would not be able to return to work. "
The note of the family
In fact Fca was unaware of the true conditions of his CEO can be confirmed by the note published by the Marchionne family.For the first time, the relatives speak in a statement to ANSA on the fact that "Fca group" was not aware of the health conditions of the old Ad. "At the end of last week – says the family note – FCA has been informed that Sergio Marchionne would not be able to return to work without adding more details. "The family thanks all those who have shown their support and shared their grief and demands respect for the family. private life. "
Marchionne with Elkann
Elkann in Zurich
Friday, July 20 – as recalled by Done Newspaper – the company would be informed by the manager's family of the serious deterioration of his state of health and that he "could not return to work ". Thus, "the company quickly badumed and announced the necessary initiatives the following day". It is only after the Marchionne family's communications, according to sources close to the group – writes also the Travaglio newspaper – that John Elkann, along with Marchionne since 2004, has reportedly rushed to Zurich.
But what is the cause of death?
However, the question mark remains on the cause that led Marchionne to death. At first, the news of a double heart attack appeared, but after the statement of the Zurich Hospital, doubts are repeated, even within the FCA. We speak of consequences for the famous operation of the shoulder ( Repubblica ) and the hypothesis of a tumor reappears. In any case, history retains an aura of mystery. The last time Marchionne appeared in public, as reconstructed by Paolo Madron on Lettera 43.it is June 26th. Three days later, the top manager cancels the commitments. Then on July 5 FCA announced that "Marchionne underwent surgery on the right shoulder and is recovering". When Dagospia refers to a quasi-rotation for the CEO of the automobile group, the company denies it however and emphasizes that the rotation to the peaks remains fixed for 2019.
July 20 – read more about Done – "The company denies that the board of directors called the Marchionne be redistributed to the board of directors for the next day". Ansa beats the news at 4:20 pm It is therefore likely that Elkann knows the real conditions of Sergio Marchionne, of his family, shortly after, and decides to activate the succession procedure. However, official news does not arrive on the terms of the announcement. The position of the company – as the Ansa writes – is: " No Comments ".
The Question
Remains a question, necessary when it is about publicly traded company, like FCA, who should immediately worry about replacing the announcement if one realizes that she is no longer able to fulfill her duties: "as far as possible – asks Stefano Feltri on Fact – that Marchionne kept the secret of his situation? Why Fca Did he fail to know the true state of Marchionne's health? " Especially in the two weeks between shoulder surgery and John Elkann's trip to Zurich to check (without much success) the conditions of the manager. In this regard, it should be noted that among the media, as for example Lettera43, believes that it would be a "shoulder surgery to operate a sarcoma, a very serious tumor (which affects the connective tissues) "
Why so much intimacy?" Perhaps – it is claimed on Republic – Marchionne hoped the illness was giving him more time. To close the business plan and leave FCA on the schedule (2019). Maybe succeed in winning the Formula 1 World Championship as president of Ferrari. "Legitimate human aspirations." Perhaps then Marchionne asked the family for absolute secrecy – a terrible burden for those who loved him – the request of the one who was not any. man, but one of the most important managers in the world.The one who "governed three publicly traded companies: the largest with 238 thousand employees. And the news of a serious illness could have led the director to stay in his role prematurely, "notes Paolo Grisieri in 19459007, Repubblica . The mystery remains and the story is not yet closed
Important that the company did not know
One thing is certain: at that time the company that "was not not aware of Marchionne's health conditions … can be accused of hiding sensitive data from its shareholders ", writes Repubblica . The fact that "for reasons of private life the health care company had no knowledge of the facts" on the other is very important. "As provided by the legislation governing Market Abuse intended to prevent behaviors designed to unlawfully use sensitive information – explains Sole 24 Ore – he had known that he would have to give immediate information to the market ". In fact, in the case where we talk about "Marchionne's health condition – writes the economic daily – was a very price sensitive price-sensitive as has also demonstrated the performance stocks on the stock market during the last sessions ". It was for the role of Marchionne, for its thickness and the impact of his work. Also for this reason "the car group immediately wanted to clarify that he had learned Marchionne's conditions only Friday and that he therefore acted promptly".
The story of Marchionne will therefore continue to ask questions. Meanwhile, Fatto Quotidiano also speaks of the "personal treasure" of CEO Fca that would amount to more than 500 million euros, net of wages received that would have resulted in the personal coffers of Marchionne of about 90 million in 14 years. However, the best Italian-Canadian manager would have "also invested in the brand-driven stock market that he directed". It's no secret that the CEO of the blue sweater had excellent managerial skills, but also and above all financial. On the other hand, Marchionne had achieved substantial financial results for the company and the shareholders. "Today – the newspaper reports – FCA makes profits of 3.5 billion euros, just three years ago, net profit stood at 330 million euros, 10 times and she capitalized 26 billion, when Marchionne took over the reins of just over 5 billion in the stock market. "The former CEO, however, is also a shareholder of the companies in the group: Fca "has 1.06% of the capital. of the split of Ferrari received 0.77% of the capital and Cnh is a shareholder with 0.9%. The newspaper therefore calculated that Friday's stock price would be 550 million euros .
Marchionne "knew essentially where his band would go" and was investing In the end, he bet on himself and won, at least from this point of view.
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