Fiat Chrysler's Sergio Marchionne dies aged 66

Former Fiat Chrysler CEO Sergio Marchionne passed away early Wednesday due to complications from shoulder surgery, Bloomberg reports.

The Associated Press is reporting that former Fiat-Chrysler CEO Sergio Marchionne has died.

Italian President Sergio Mattarella: "Marchionne wrote an important page in the history of Italian industry".

"I don't care what a tough guy he was to work for, he saved our company", said Cass Burch, a Chrysler and Jeep dealer in Georgia.

General Motors CEO Mary Barra, whom Marchionne tried unsuccessfully to persuade to enter into a merger, sent condolences to his family, friends and Fiat Chrysler colleagues and praised his "remarkable legacy in the automotive industry". It is now the world's seventh-largest carmaker and is debt-free.

Pakistan polls: Former cricketers turn to support Imran Khan
Political parties held their final rallies Monday night - before campaigning was suspended - in a last-ditch attempt to energize voters.

Discussing how he changed the culture at Chrysler, Marchionne said in 2013 that he believed if a business has become dysfunctional, "the real problem sits at the top" - so, he added, "we changed all of the senior leadership of Chrysler within a matter of a couple of days".

In the past four years alone, Fiat Chrysler's stock price almost quadrupled under Marchionne. As his professional life progressed, Marchionne returned to Europe where his success in restructuring ailing companies saw him tasked with turning around Fiat.

Fiat Chrysler Automobiles declined to comment, citing privacy issues. And many of us have lost a very dear friend: "Sergio Marchionne".

Marchionne resurrected one of Italy's biggest corporate names and revitalized Chrysler, succeeding where the US company's two previous owners - Mercedes parent Daimler and private equity group Carberus - both had failed. When he was 13, his family immigrated to Canada where they settled in Toronto; he attended St. Michael's College and then went to the University of Toronto to study philosophy, but earned a Bachelor of Commerce and an MBA at the University of Windsor and a law degree from Osgoode Hall at York University in Toronto.

The Italian-Canadian executive took the reins at Fiat in 2004. In 1994, the company was merged with Swiss industrial firm Alusuisse Lonza Group, at which point Marchionne moved to Switzerland. Marchionne leaves behind his partner, Manuela Battezatto and two children.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.