Jump to content
  • William Maley
    William Maley

    Mike Manley To Succeed Sergio Marchionne As FCA CEO

      Fiat Chrysler Automobiles confirms the news


    Mike Manley has been chosen as the replacement for the seriously ill Sergio Marchionne as Fiat Chrysler Automobiles CEO today. A source tells Automotive News Europe that the decision was made during an emergency meeting of FCA's board of directors today. 

    "With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours," FCA said in a statement released a few moments ago.

    "As a consequence, Mr. Marchionne will be unable to return to work."

    As we reported earlier this morning, Marchionne has been dealing “massive” and serious complications after surgery to his shoulder. Marchionne was planning to announce his successor next April during the company's announcement of 2018 financial results.

    Manley joined DiamlerChrysler in 2000 as the director of network development for the UK branch. He would hold various positions at DiamlerChrysler and Chrysler before being named CEO of Jeep in 2009. Under his leadership, Jeep has expanded into other markets and  sales have quadrupled. He would also be named CEO of Ram Trucks in 2015.

    Manley prevailed over two other FCA veterans: CFO Richard Palmer and COO of Europe, Middle East and Africa regions, Alfredo Altavilla.

    Source: Automotive News Europe (Subscription Required), Fiat Chrysler Automobiles


    FCA Announcement

    July 21, 2018 , London - With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours.

    As a consequence, Mr. Marchionne will be unable to return to work.

    The Board of Directors of FCA, meeting today, firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the Company in these years.

    The Board resolved to accelerate the CEO transition process that has been proceeding over the past months and named Mike Manley as CEO. The Board will therefore propose to the next Shareholder Meeting, to be called in the coming days, that he be elected to the Board and serve as an executive director of the Company. 

    In the meantime, in order to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Mr. Manley all the powers of CEO. He will also assume responsibility for the NAFTA region.

    Mr. Manley and his management team will proceed with the implementation of the 2018 – 2022 Business Plan as presented on June 1 of this year, a plan that will further assure FCA’s strong and independent future.

    Edited by William Maley

    • Upvote 2


    User Feedback

    Recommended Comments

    Jeep is the strongest brand they have so it makes sense.  FCA still has the same owner though, so I don't think the product roadmap or plans for their path forward changes at all.  

    Share this comment


    Link to comment
    Share on other sites

    First off, i hope for the best for Sergio and his family.

    Manley seems well qualified to assume this role.

    I hope the transition goes ok, down the road, I wonder if this alters the course FCA seems to be on with regards to starving Chrysler and Dodge.

    • Like 2

    Share this comment


    Link to comment
    Share on other sites

    Time to kill off the unloved Fiat in the US, leave it to Europe and those 3rd world places that want and still buy the cheap little POS auto's. Alfa, is bleeding money and is mediocre at best. Time to let it go BACK into the History books. Move the platform into Dodge / Chrysler and in the Euro market grow Fiat with some bigger cars to expand options.

    Continue to invest in Dodge, Chrysler, Ram and especially JEEP.

    Sorry for the personal health issues of Serfio's family.

    Hello Mike, wishing you all the best in continuing to grow FCA.

    Share this comment


    Link to comment
    Share on other sites

    I read Sergio is in extremely serious condition, it sounds like there is nothing they can do for him.  A very sad situation. 

    As far as FCA goes, these big corporations usually plan a new CEO at least a year in advance, a sudden change like this can send shockwaves through a company.  This is shocking news that the guy who turned around Fiat and has been regarded as one of the great automotive leaders is now gone from the company.   Could be a tough year for them ahead.

    Share this comment


    Link to comment
    Share on other sites
    7 hours ago, riviera74 said:

    The new CEO has a choice: save Dodge/Chrysler or save FIAT/Alfa Romeo.  He MUST choose wisely.

    I think all can be saved....catch is doing it smart.....

    Share this comment


    Link to comment
    Share on other sites
    9 hours ago, smk4565 said:

    I read Sergio is in extremely serious condition, it sounds like there is nothing they can do for him.  A very sad situation. 

    As far as FCA goes, these big corporations usually plan a new CEO at least a year in advance, a sudden change like this can send shockwaves through a company.  This is shocking news that the guy who turned around Fiat and has been regarded as one of the great automotive leaders is now gone from the company.   Could be a tough year for them ahead.

    How did Sergio turn Fiat around. They still build crap that no one wants and as far as a great automotive leader. Sorry Biff, your clearly drinking the wrong kool aid on this one. He is anything but a great leader.

    Share this comment


    Link to comment
    Share on other sites
    16 hours ago, dfelt said:

    Alfa, is bleeding money and is mediocre at best.

    Uhhhh I haven't heard a lot bad about their recent offerings. The're competing directly with the best from Germany and the're not bad at all. I've definitely not heard anybody refer to the Giulia or Stelvio as mediocre. 

    Share this comment


    Link to comment
    Share on other sites
    38 minutes ago, ccap41 said:

    Uhhhh I haven't heard a lot bad about their recent offerings. The're competing directly with the best from Germany and the're not bad at all. I've definitely not heard anybody refer to the Giulia or Stelvio as mediocre. 

    I have heard this many times as people here in Seattle are NOT impressed with Alfa's. Lexus and Infiniti is considered better than an Alfa.

    Share this comment


    Link to comment
    Share on other sites
    19 minutes ago, dfelt said:

    I have heard this many times as people here in Seattle are NOT impressed with Alfa's. Lexus and Infiniti is considered better than an Alfa.

    I've heard people hate on all EVs, does that make them truly "mediocre at best"? 

    Share this comment


    Link to comment
    Share on other sites
    1 hour ago, ccap41 said:

    Uhhhh I haven't heard a lot bad about their recent offerings. The're competing directly with the best from Germany and the're not bad at all. I've definitely not heard anybody refer to the Giulia or Stelvio as mediocre. 

    2

    Reliability is an issue for Alfa. I wouldn't put either of their primary vehicles' interiors at an equal quality level to the Germans or even the latest Lincolns. Styling is subjective, but I find them a bit stark. 

    • Like 1

    Share this comment


    Link to comment
    Share on other sites

    Sergio did pull Fiat out of bankruptcy and they profited billions from the sale of Ferrari.  FCA is still stuck with 2 brands that make money and several that don't, and Maserati is something he wanted to spin off to make a cash grab.  I think this company is a mess because they don't have EV's and driverless cars in the works, so they are way behind.

    Altavilla resigned today also.  So we'll see what happens now without the CEO and COO there.

     

    Share this comment


    Link to comment
    Share on other sites
    4 hours ago, Cubical-aka-Moltar said:

    Jalopnik has reported that Marccionne has passed away at age 66.

    https://jalopnik.com/fiat-chrysler-ceo-sergio-marchionne-turnaround-artist-1827776488

    RIP Sergio, I never cared for how he managed FCA, but my thoughts go out to his family on their loss.

    I do have to question how a simple procedure ended up taking his life so soon. I hope they release his autopsy results.

    Share this comment


    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By Drew Dowdell
      FCA US Reports April 2019 Sales; Quarterly Reporting of Sales to Start in Q3

      Jeep® Grand Cherokee and Jeep Compass post new April sales records Ram pickup notches best April ever as sales rise 25 percent Overall Ram brand sales reach new high     FCA US to report sales quarterly starting Oct. 1 May 1, 2019 , Auburn Hills, Mich. - FCA US LLC notched four U.S. sales records for April, highlighting consumer demand for the company’s brands despite continued softness within the industry.
       
      FCA sold 172,900 vehicles in the month compared to 184,149 vehicles for the same period a year earlier. Retail sales accounted for 129,382 vehicles and fleet accounted for 25 percent of total sales. On a year-to-date basis, fleet accounted for 27 percent of total sales.

      The Jeep® Compass and Jeep Grand Cherokee both reported April records as sales rose 10 percent and 23 percent, respectively. This was the second consecutive month Grand Cherokee set a record monthly high.  

      The Ram brand achieved its fourth consecutive month of record sales for the year, as April sales rose 25 percent to 53,811 vehicles. Ram pickup sales also had their second consecutive month of record sales with 49,106 vehicles sold.

      "April marks the start of the spring selling season and we anticipate strong consumer spending as we move through May,” U.S Head of Sales Reid Bigland said. "The industry may be shaking off the first-quarter sluggishness, but shoppers are coming into showrooms and buying. We sold more than 300 Jeep Gladiators, which are now starting to arrive in showrooms across the country, and we expect our Gladiator count to continue to rise, reflecting both ongoing demand and the fulfillment of the 4,190 orders taken in early April for the 2020 Gladiator Launch Edition."   

      See the attached table for the breakdown of brand and nameplate sales.

       
    • By Drew Dowdell
      FCA US Reports March 2019 Sales

      Ram pickup reports new March record as sales increase 9 percent to 45,187 sold Jeep® Grand Cherokee notches best March ever as sales rise 26 percent to 24,655 vehicles sold Ram brand sets new March record as sales jump 15 percent to 51,822 sold April 2, 2019 , Auburn Hills, Mich. - FCA US LLC reported a new March record for the Ram brand as sales jumped 15 percent, underscoring the success the company has found in its two-pronged strategy of selling both the Ram 1500 and Ram Classic.

      The performance of the Ram brand, combined with a new March record for Jeep® Grand Cherokee, countered general softness within the industry. FCA sold 200,307 vehicles in the month.
       
      "The industry had a tough first quarter but with spring finally starting to show its face and continued strong economic indicators, such as a boost in housing sales, lower lending rates and a strong labor market, we are confident that new vehicle sales demand will strengthen going forward," Reid Bigland, Head of U.S. Sales, said. "Meanwhile, our Ram brand sales and average transaction prices continue to be strong and our much anticipated, game-changing Jeep Gladiator pickup is on track for its in-market debut this month."

      See the attached table for the breakdown of brand and nameplate sales.

      Method of Determining FCA US LLC’s Monthly Sales. FCA US’s reported vehicle sales represent unit sales of vehicles to retail customers, deliveries of vehicles to fleet customers and to others such as FCA US’s employees and retirees as well as vehicles used for marketing. Most of these reported sales reflect retail sales made by dealers out of their own inventory of vehicles previously purchased by them from FCA US. Reported vehicle units sales do not correspond to FCA US’s reported revenues, which are based on FCA US’s sale and delivery of vehicles, and typically recognized upon shipment to the dealer or end customer. As announced on July 26, 2016, FCA US has modified its methodology for monthly sales reporting as follows:  Sales to retail customers by dealers in the U.S. are derived from the New Vehicle Delivery Report (“NVDR”) system and are determined as the sum of (A) all sales recorded by dealers during the month net of all unwound transactions recorded to the end of that month (whether the original sale was recorded in the current month or any prior month); plus (B) all sales of vehicles during that month attributable to past unwinds that had previously been reversed in determining monthly sales (in the current or prior months).  Fleet sales are recorded upon the shipment of the vehicle by FCA US to the customer or end user.  Other retail sales are recorded either (A) when the sale is recorded in the NVDR system (for sales by dealers in Puerto Rico and limited sales made through distributors that submit NVDRs in the same manner as for sales by U.S. dealers) or (B) upon receipt of a similar delivery notification (for vehicles for which NVDRs are not entered such as vehicles for FCA employees). FCA US LLC Sales Summary March 2019
      Model
       
      Month Sales
      Vol %
      Change
      CYTD Sales
      Curr Yr             Pr Yr
      Vol %
      Change
      Curr Yr
      Pr Yr
      Compass
       
      14,945
      17,302
      -14%
      37,306
      43,520
      -14%
      Patriot
       
      1
      100
      -99%
      10
      364
      -97%
      Wrangler
       
      21,963
      27,829
      -21%
      49,978
      55,504
      -10%
      Gladiator
       
      43
      0
      New
      123
      0
      New
      Cherokee
       
      18,262
      23,764
      -23%
      49,420
      50,610
      -2%
      Grand Cherokee
       
      24,665
      19,616
      26%
      57,749
      53,448
      8%
      Renegade
       
      7,449
      9,771
      -24%
      18,218
      24,659
      -26%
      JEEP BRAND
       
      87,328
      98,382
      -11%
      212,804
      228,105
      -7%
      Ram P/U
       
      45,187
      41,307
      9%
      120,026
      103,964
      15%
      Cargo Van
       
      0
      0
      0%
      0
      0
       
      ProMaster Van
       
      4,928
      2,451
      101%
      13,319
      6,457
      106%
      ProMaster City
       
      1,707
      1,120
      52%
      3,668
      3,233
      13%
      RAM BRAND
       
      51,822
      44,878
      15%
      137,013
      113,654
      21%
      200
       
      8
      189
      -96%
      26
      659
      -96%
      300
       
      3,704
      6,223
      -40%
      8,290
      12,992
      -36%
      Town & Country
       
      0
      1
      -100%
      1
      3
      -67%
      Pacifica
       
      8,457
      13,086
      -35%
      23,274
      32,579
      -29%
      CHRYSLER BRAND
       
      12,169
      19,499
      -38%
      31,591
      46,233
      -32%
      Dart
       
      2
      87
      -98%
      8
      252
      -97%
      Avenger
       
      0
      0
      100%
      0
      1
      -100%
      Charger
       
      8,858
      8,504
      4%
      20,615
      21,265
      -3%
      Challenger
       
      6,562
      8,150
      -19%
      13,431
      17,648
      -24%
      Viper
       
      0
      6
      -100%
      1
      9
      -89%
      Journey
       
      8,513
      10,275
      -17%
      24,003
      18,419
      30%
      Caravan
       
      15,806
      16,292
      -3%
      35,440
      43,144
      -18%
      Durango
       
      6,626
      5,870
      13%
      17,019
      16,233
      5%
      DODGE BRAND
       
      46,367
      49,184
      -6%
      110,517
      116,971
      -6%
      500
       
      310
      439
      -29%
      778
      1,309
      -41%
      500L
       
      61
      173
      -65%
      168
      395
      -57%
      500X
       
      262
      607
      -57%
      755
      1,579
      -52%
      Spider
       
      214
      325
      -34%
      513
      731
      -30%
      FIAT BRAND
       
      847
      1,544
      -45%
      2,214
      4,014
      -45%
      Giulia
       
      858
      1,284
      -33%
      2,035
      3,085
      -34%
      Alfa 4C
       
      18
      22
      -18%
      41
      54
      -24%
      Stelvio
       
      898
      1,270
      -29%
      2,210
      2,653
      -17%
      ALFA ROMEO
       
      1,774
      2,576
      -31%
      4,286
      5,792
      -26%
      FCA US LLC
       
      200,307
      216,063
      -7%
      498,425
      514,769
      -3%
       
    • By Drew Dowdell
      Financial Times is reporting that Renault wants to make the marriage to Nissan more official and formally merge.  Renault wants to start talks within the next 12 months and include a potential bid for automaker FCA .  The combined companies of Nissan, Renault, Fiat, and Chrysler would be a conglomerate that rivals the size of Toyota and Volkswagen.
      Carlos Ghosn tried to start merger talks prior to his arrest for financial wrongdoing, however, the French government stopped his proposals. Renault currently owns roughly 43% of Nissan.
      FCA has recently been in the news for potential talks with Peugeot to merge. Those reports were squashed when it came to light that the Agnelli family, who has a controlling stake in FCA, was not interested in a deal that was paid for with PSA stock.
    • By Drew Dowdell
      Financial Times is reporting that Renault wants to make the marriage to Nissan more official and formally merge.  Renault wants to start talks within the next 12 months and include a potential bid for automaker FCA .  The combined companies of Nissan, Renault, Fiat, and Chrysler would be a conglomerate that rivals the size of Toyota and Volkswagen.
      Carlos Ghosn tried to start merger talks prior to his arrest for financial wrongdoing, however, the French government stopped his proposals. Renault currently owns roughly 43% of Nissan.
      FCA has recently been in the news for potential talks with Peugeot to merge. Those reports were squashed when it came to light that the Agnelli family, who has a controlling stake in FCA, was not interested in a deal that was paid for with PSA stock.

      View full article
    • By Drew Dowdell
      The rumors that PSA and FCA may merge can be put to bed now.  Sources familiar with the discussion told the Wall Street Journal that executives from the respective companies are no longer in talks.  FCA was reticent about the idea because it would increase the companies reliance on the struggling European market, and the Agnelli family, who has a controlling stake in FCA, was not interested in a deal that was paid for with PSA stock. PSA would need to use equity to pay for FCA because they are still digesting their acquisition of Opel from General Motors. 
      Had they merged, the combined company would produce over 9 million vehicles per year, putting them on a playing field with Volkswagen and Nissan-Renault.  It would also give PSA a much needed foothold into the U.S. market for their planned 2026 re-entry. 
  • Social Stream

  • Who's Online (See full list)

    There are no registered users currently online

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...