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The late founder and head of the Fiat-Chrysler (FCA), general manager Sergio Marconi, was a notorious cheerleader who regularly slept in a company plane that he had traveled continuously between both coasts of the Atlantic Ocean.
Despite his public profile, he kept the secret of his steering committee: he was seriously ill for more than a year.
After his sudden death last week at the age of 66, he discovered that Markione had been hiding the disease for so long. The company and the closest associates sparked a debate about the personal information that directors must share with businesses and stakeholders.
Some experts point out that administrators have a right to privacy, especially in the area of health. Disclosure of bad news on this topic would help break the taboo on workplace illness and managers and employees. Senior executives also need to keep in mind that they are primarily accountable to boards of directors, then to employees and investors. "I think it's a classic case: when you're older and sick, you're branded" for organizational psychology and health at the Manchester Business School, UK. "In this case, he might have thought that it would have a negative impact on the company or that he would not let him continue to work."
The case of Markione is unique since it's identified with a new automaker they collapsed – Fiat and Chrysler.
Financial analysts, considering his intention to retire in spring 2019, have already expressed concern about whether his successors will be able to work creatively and flexibly as before Markione. While the FCA Board quickly replaces Markione as Executive Director as soon as his family informs him that he can not go back to work "because of complications after the surgery. "Shoulder", the Swiss hospital who died on Wednesday, then revealed that he had been treated for more than a year in a serious illness.
"Fiat-Cracked" reacts to this finding by saying that at the end of this week, Fiat-Craires lost nearly 11% of the value of shares on an unstable stock market and 9% on the New Stock Exchange York
Jeffrey Sonnfeld, a professor at the University of Yale University for Management, said the director has "moral, ethical and legal responsibility … to consider negative material consequences and very important information. As a director, you give up a degree of intimacy. "
Sonenfeld noted as good examples that JP Morgan's director, Jimmy Diamond, and Goldman Sachs CEO, Lloyd Blankfajn, have informed the executive committees and employees of their cancer cancer. they continued to work.
On the other hand, Apple Company was aware of the disease of its founder, Steve Jobs, but in 2008 it published erroneous information about it. "It was worse than tricks." Giuseppe Berta, who has written several books on Fiat and Fiat-Craiova and who knew Markione, said that he was surprised because Markione's disease did not even know him. successor of the Anjeli family, "
" Clearly, the relationship between the director and Markione Elkan's shareholder has deteriorated considerably, "said Berta
although Markione placed" Fiat-Cracked "on a solid financial basis, Berta said that this automaker was not investing in new competing products, including electric vehicles and autonomous cars, but that it was only after the implementation
However, such logic is a useless consequence of vanity, say the experts.
"Nobody, and indeed: no one is irreplaceable, "said one British professor of business psychology. Ogije Kuper. "Everyone was saying," What will there be with Apple after Steve Jobs? "And did the companies do something wrong?"
(Beta)
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