Fiat-Chrysler (FCA) CEO Sergio Marchionne stood down from his post at the weekend following 'unexpected complications' that arose as he recovered from surgery to his shoulder.
FCA said in a statement that 'as a consequence, Mr Marchionne will be unable to return to work'.
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Mike Manley, head of the group's Ram and Jeep brands, has taken over as FCA Group chief executive.
Marchionne (66) will also leave his roles as chairman and chief executive at Ferrari. John Elkann becomes Ferrari chairman. Elkann (a member of the Agnelli family and head of the Exor investment company that controls Ferrari) said in a statement that he was 'profoundly saddened to learn of Sergio's state of health.' He also said that: "He taught us to think differently and to have the courage to change, often in unconventional ways, always acting with a sense of responsibility for the companies and their people."
The statement from FCA said that the board of directors of FCA 'firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the company.'
Media reports in Italy say that Marchionne is gravely ill in a Swiss hospital. The health complications for Marchionne that worsened over the weekend follow shoulder surgery in late June.
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By GlobalDataMarchionne, 66, is a dual Italian-Canadian citizen and was picked to lead troubled Fiat in 2004. The company was paired with Chrysler when the company emerged from bankruptcy with the help of a US government bailout in 2009. Marchionne was due to retire from his FCA role in 2019.
FCA said that 'Mr. Manley and his management team will proceed with the implementation of the 2018 – 2022 Business Plan as presented on 1 June this year, a plan that will further assure FCA's strong and independent future.'
Mike Manley
New FCA CEO Mike Manley (age 54) had been Head of Jeep brand since June 2009 and Head of Ram brand since October 2015. Prior to those roles, he was Chief Operating Officer for the APAC region. He was also the lead Chrysler Group executive for the international activities of Chrysler outside of NAFTA, where he was responsible for implementing the co-operation agreements for distribution of Chrysler Group products through Fiat's international distribution network.
Previously, Manley was Executive Vice President – International Sales and Global Product Planning Operations since December 2008. In this position, he was responsible for product planning and all sales activities outside North America.
Manley joined DaimlerChrysler in 2000 as Director – Network Development, DaimlerChrysler United Kingdom, Ltd. He holds a Master of Business Administration from Ashridge Management College in Ashridge, England, and a Bachelor of Science in engineering from Southbank University in London. He was born in Edenbridge, Great Britain.
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