Marchionne to Step Down as Fiat-Chrysler CEO in 2018

Sergio Marchionne has been “in office” since June of 2004, and that makes him the longest serving CEO of any major Euro automaker.

However, he’s just announced that he will not be occupying the position after the year 2018 when he plans to step down and try something else (other than a major company turnaround – he’s apparently really into theoretical physics…).

Marchionne is credited as being the brains behind the Fiat-Chrysler merger and under him the Italian brand has increased its income five times. He still has some ways to go before his work is complete, though, the main issue being putting Alfa Romeo back on its feet and back on the sporty sub-premium map.

He’s also keen to expand the Jeep brand outside the US and make it more popular around the world – the new Renegade is a clear indicator of that.

When asked about his replacement and how the change will affect the company, Marchionne replied: “There are a number of things that the next CEO will do which are totally different from what I do. The role as presently configured will have to be reconfigured.”

Bloomberg says that the man (or woman) that is to replace him won’t be chairman John Elkann, a member of the Agnielli family. The company will stick to the same formula of having an Agnielli as chairman and an outside professional manager as CEO.