Former Fiat Chrysler CEO Sergio Marchionne Has Died
The Italian-born, Toronto raised and educated Marchionne was planning to retire next year.
After announcing he would step down as CEO of Fiat Chrysler Automobiles due to health concerns last weekend, FCA Chairman John Elkann confirmed today that Sergio Marchionne has died. He was 66.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man, and friend is gone,” Elkann said in a statement.
“I believe that the best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion.”
The Italian-born, Toronto raised and educated Marchionne was planning to retire next year, but complications following shoulder surgery in early July forced FCA’s hand. Former Jeep CEO Mike Manley was selected to take over from Marchionne as FCA CEO on July 21.
Marchionne was named Fiat CEO in 2004 and became CEO of FCA in 2009 following Fiat’s acquisition of a 20 percent ownership stake in Chrysler. Fiat acquired 100 percent of Chrysler in 2014.
Marchionne is survived by his former wife Orlandina, partner Manuela Battezato and adult sons Alessio and Tyler.
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