Sergio Marchionne Says He’ll Step Down As Fiat Chrysler CEO After 2018

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  1. Carnage

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    Sergio Marchionne Says He’ll Step Down As Fiat Chrysler CEO After 2018

    Fiat Chrysler Automobiles CEO Sergio Marchionne says he plans to do something else after 2018, when a company-wide five-year strategy he announced in May is expected to conclude.

    “I’ll undoubtedly do something else” Marchionne told Bloomberg when asked what he’ll do once his five-year strategy for FCA is completed. “I am not going to do any more turnarounds—I’m done.”

    Marchionne was asked by Fiat chairman John Elkann in 2004 to help turnaround the company’s fortunes. He then oversaw the merger of Fiat with Chrysler and the eventual full takeover of the recently bankrupt automaker to form the new FCA, which next week will be floated on the New York[​IMG] Stock Exchange.

    He still has a lot of work to take care of, as the five-year strategy will see FCA introduce a raft of new models and expansion into new markets at a time when most rivals are working on similarly aggressive plans of their own.

    Though Marchionne says he won’t be the CEO of FCA beyond 2018, it doesn’t necessarily mean he’ll leave the group. There are rumors the 62-year-old, who happens to be a huge fan of performance cars and motorsport, may stay on as chairman of Ferrari, a role he takes up next week when longstanding chairman Luca di Montezemolo retires.

    As for a replacement CEO for FCA, the company has a number of candidates on its watch list. Potentials include Alfredo Altavilla, Fiat’s European chief; Mike Manley, head of Jeep; and Cledorvino Belini, head of Fiat in Brazil[​IMG].
     
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