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"Massive complications" after a shoulder operation led to a rapid deterioration in the state of health of Sergio Marchionne, 66 years old. FCA boss John Elkann does not want to give details of the plight of the legendary leader of the auto industry.
In a brief press release on Saturday night, FCA's management, Fiat / Chrysler, announced that Sergio Marchionne, general manager, suffered "massive complications" after an operation. However, these kinds of complications are not described and in what serious health situation Sergio Marchionne
The FCA Board met on Saturday afternoon and then decided to replace Sergio Marchionne permanently. Earlier this Saturday, Mike Manley was named CEO of FCA, former Jeep and Ram chief.
Last Sergio Marchionne was seen in public a month ago. He will have undergone a planned operation of his right shoulder. The surgery apparently proceeded as planned but then complicated complications. Saturday, the state of health has deteriorated sharply – without giving details – and FCA announced that Sergio Marchionne has been replaced as CEO of Mike Manley
JohnAndann, FCA President, announced Saturday in a statement that the state of health of Sergio Marchionne last hours. The English press release is further down on page
Sergio seldom wears a tie and a suit, the last time that he was in 2007 during his visit to the pope. Or was it the pope who met Marchionne? The photo dates from 2017, when General Motors CEO Mary Barra (left) and Sergio Marchionne meet with President Donald Trump at the White House. Tie? Barely.
Sergio Marchionne's career – fast and drastic
Most of you already have the story of Sergio Marchionne and the Italian family who moved to Toronto Canada for the sons to get a better education. Sergio earned a law degree, taught fluent English, and made a career in Canada when he was chosen to be in the garbage bin in Algroup, Switzerland. This mission ended when he became president and the powerful industrial family, Agnelli, took note of the powerful man of the country, who was elected to the Fiat Board.
In a few years, many of the most important members of the Agnelli family have died. Luca Cordero di Montezemolo, chairman of the board, made a desperate choice by naming Sergio Marchionne as Fiat's CEO, who was once again on the run.
Sergio Marchionne cleaned up midfielder in the bureaucracy-fiat, but did not fire the auto workers and did not shut down the factories. A war with the powerful unions would never win. Marchionne has erased the most people but has made sure that Grande Punto and the 500 evolve, which saved Fiat.
Star received Sergio Marchionne when he negotiated with his GM partner – who had 20% of Fiat – and managed to get rid of two billion dollars of jenniens to get out of the Italian mourning.
A few years later, Fiat was again on a green twig and most looked good. Until September 2008, when Lehman Brothers collapsed and the banking crisis hit their claws in a whole world. General Motors was headed for bankruptcy, like Chrysler, and if both passed, hundreds of thousands of jobs were threatened in the United States. In this situation, Sergio Marchionne saw a chance that no one else thought he would save Chrysler. As a reward, Fiat would become a partner and eventually majority owner, if everything went well.
Sergio Marchionne managed to convince everyone that there was a future and Chrysler got up, laboriously. In 2014, the two automobile companies merged with FCA, Fiat Chrysler Automobiles. It was at the last moment that the wave bowl hit elsewhere, Chrysler took the train, but Fiat again ended the crisis.
At the same time, Marchionne took a firmer hold. Luca Cordero di Montezemolo was dismissed and Marchionne took office as chairman of the board of directors. Sentimental is not it, Marchionne …
The last time someone saw Sergio Marchionne in a suit and tie, that's when he visited the Pope 2007 Sacky pants and a black sweater bring out Marchionne in a sea of sneakers. Sticker out also makes his unconventional views on an auto industry that "just ruins money". Profitability must be rising and this can only be through merging and simplification. Why, for example, could you not agree on a few common engines? Why should car manufacturers commit billions to develop components that consumers can not distinguish?
In 2015, Sergio Marchionne lobbied GM and proposed a marriage with FCA, creating the world's largest automobile company. . However, GM's CEO Mary Barra was a moderate road of rebirth and nobbade. The stalwarts shook their heads, but Marchionne did not look too sad. "The next major consolidation in the auto industry will be made by 2018," said Marchionne
Sergio Marchionne had planned for his own departure, but it remains to be seen how he should enter into its future forecasts. An increasingly electrified automotive industry with autonomous vehicles will completely draw the map.
CFA Communiqué:
Statement by John Elkann, President of Exor
July 21, 2018, London, UK – I am deeply saddened to learn Sergio's state of health. In a way, the situation has become unthinkable for the time being and subsequently, as well as for everything that concerns the health and safety of people.
My first thoughts are with Sergio and his family.
What struck me at Sergio from the very beginning, when we talked about the possibility that he came to work for the Group, more than his management skills and his unusual intelligence, his qualities human, his generosity and the way he understood people.
Over the past 14 years, we have lived together successes and difficulties, internal and external crises, but also unique and irreplaceable moments, both personal and professional.
For many, Sergio has been an enlightened leader and an unrivaled reference point.
For me, he was someone with whom to share his thoughts and who to trust, a mentor and especially a true friend.
He taught us to think differently and to have the courage to change, often unconventionally, always acting with a sense of responsibility towards businesses and their people.
He taught us that the only question worth asking at the end of each day is whether we have been able to change something for the better, if we have been able to do the difference.
And Sergio has always made the difference no matter where his work has led him and in the lives of so many people.
Today, we can see this difference in the culture that he introduced into all the companies he directed, a culture that is an integral part of every one of them. .
The succession plans that we have just announced, even if they are not painful from a personal point of view, mean that we can guarantee the greatest possible continuity, preserving the unique cultures of our businesses.
I've had the privilege of having Sergio by my side for all these years.
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