Former Fiat Chrysler Automobiles (FCA) CEO, Sergio Marchionne, has passed away following complications from a shoulder surgery.
The announcement was made by FCA Chairman John Elkann: “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.”
Sergio Marchionne, age 66, had recently undergone shoulder surgery at a hospital in Zurich, Switzerland. His condition aggravated and forced him to step down from the helm of FCA and Ferrari. His duties within the Group were passed on to Jeep and Ram boss Mike Manley.
In his last public appearance, on June 26, the former FCA chief presented a new Jeep Wrangler to Italy’s Carabinieri, a military force charged with police duties. Marchionne appeared to be fatigued and lethargic, struggling to keep a speech at the event.
A true workaholic who constantly traveled the world as the main man over at FCA, Sergio Marchionne was a heavy smoker and espresso drinker until 2017, when he quit both. He was also looking to retire in April 2019, after seeing the 2014-2018 business plan end.
Born in 1952 in Italy, Sergio Marchionne was recognized for turning around the Fiat Group, and being one of the key persons behind the alliance formed with Chrysler. He was elected as an independent member of Fiat’s Board of Directors in 2003, and one year later, he was appointed CEO.
Marchionne became the CEO of Chrysler in 2009, when the North American giant emerged from bankruptcy protection. That’s when the Fiat Group received a 20 percent stake in Chrysler, and two years later, the Italian company’s stake increased to 53.5 percent.
Chrysler and Fiat merged in 2014, under Marchionne’s leadership.