Chrysler group puts Briton Mike Manley in driving seat

23 July, 2018, 18:43 | Author: Kevin Carter
  • Fiat Chrysler chooses Jeep exec Manley to replace ailing CEO

Marchionne was appointed as CEO in 2004.

Louis Camilleri, a Ferrari board member has been named CEO of the sports vehicle maker, while John Elkann, grandson of Gianni Agnelli and chairman of FCA, has been named as chairman of Ferrari.

British-born Manley, who also takes responsibility for the North America region, will implement a strategy outlined by Marchionne last month to ensure the company has a "strong and independent future", FCA said in a statement. As CEO, Marchionne has led FCA through multiple plans for profitability, which the automaker has largely delivered on, and spun off Ferrari as a successful standalone business unit.

The three boards were summoned to separate meetings in Turin on Saturday, July 21 amid the prolonged convalescence of Marchionne, who had shoulder surgery three weeks ago in Switzerland.

Marchionne helped navigate FCA through bankruptcy during his 14-year tenure and turn the company's finances back from the brink of collapse.

Candice Miller, Macomb County public works commissioner and former Republican congresswoman from Harrison Township, said she is “sorry to hear” Marchionne is stepping down.

Having joined the United Kingdom division of what was then Daimler Chrysler in 2000 as a distribution networks specialist, Manley broadened his global experience by becoming chief operating officer of Chrysler's Asia-Pacific operations.

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Marchionne put Manley in charge of the Ram brand as well as Jeep in 2015.

Fiat Chrysler, the Ferrari parent, did not confirm that. Elkann went on to describe Marchionne as a mentor, true friend and an "enlightened leader" with unusual intelligence.

He already sits on the Ferrari board.

"Marchionne ran FCA in a command and control style, with constant firefighting measures".

"The succession plans we have just announced, even if not without pain from a personal point of view, mean we can guarantee the maximum possible continuity, preserving our companies' unique cultures", said Elkann. He also serves as CEO and chairman of Ferrari, and CNH Industrial.

"I hope that whoever succeeds him will understand Ferrari's value in Formula 1 and decide quickly that the team should remain in the championship", said McLaren CEO Zak Brown.

Marchionne will also be remembered for his unapologetically blunt approach to both management and addressing the media, as well as his outspoken opinions regarding the automotive industry.

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