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  • William Maley
    William Maley

    Rumorpile: FCA, Ferrari Boards To Discuss Marchionne Successors

      It seems Sergio Marchionne is making a quicker exit than we first thought

    *UPDATE* Automotive News Europe is reporting that Jeep and Ram Trucks head Mike Manley will become Marchionne's successor as FCA CEO. We'll have more in an upcoming news story.

    The era of Sergio Marchionne leading Fiat Chrysler Automobiles and Ferrari is seemingly coming to abrupt end. Last night, both Bloomberg and Reuters reported that Marchionne would not return as CEO of the two companies due to complications from surgery. Earlier this month, FCA said Marchionne would be going on medical leave for shoulder surgery. Sources tell Reuters that since the operation, the CEO has been experiencing “massive” and serious complications.

    The boards of FCA and Ferrari are meeting today to decide possible successors. According to one source, the new CEO of Ferrari is expected to be Louis Carey Camilleri - currently a board member and former chairman of Philip Morris International. At FCA, there are three people up for consideration - CFO Richard Palmer, Europe chief Alfredo Altavilla, and head of the Jeep and Ram Mike Manley.

    Spokespeople for both FCA and Ferrari declined to comment.

    In addition to his roles at Ferrari and FCA, Marchionne is the Chairman of CNH Industrial, an agricultural and construction equipment manufacturer. According to sources, the board is expected to meet today to discuss a succession plan.

    Source: Automotive News (Subscription Required), Bloomberg, Reuters

    Edited by William Maley

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    I REALLY REALLY REALLY HOPE that Mike Manley gets the CEO position, but my gut tells me they will probably go with the European Chief Alfredo Altavilla as Italians want an idiot Itallian running the company that is kept going by American Money.

    Mike would make sure the US divisions that have kept Fiat going and brought JUNK Alfa back from the grave would get the focus and profits to keep building new auto's.

    Bye Bye Sergio, you WILL NOT be missed!

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    53 minutes ago, dfelt said:

    I REALLY REALLY REALLY HOPE that Mike Manley gets the CEO position, but my gut tells me they will probably go with the European Chief Alfredo Altavilla as Italians want an idiot Itallian running the company that is kept going by American Money.

    Mike would make sure the US divisions that have kept Fiat going and brought JUNK Alfa back from the grave would get the focus and profits to keep building new auto's.

    Bye Bye Sergio, you WILL NOT be missed!

    @dfelt have I got some good news for you.

    Screen Shot 2018-07-21 at 12.14.51 PM.png

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    I had no idea Sergio was ill.  At the same time, replacing him with Manley should provide some hope for those who are pro-Chrysler and anti-FIAT.  FIAT and Alfa Romeo do not even belong in the USA since neither fill a niche that can be filled by somebody else.

    "You know, I would like my ordinary car (or luxury car) to be made by Italians," said NO ONE (in NA) EVER.

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    The Giorgio platform did have the help of some Ferrari engineers. Then again Ford and Chevy can make Ferrari killing cars and so can Dodge.

     

    This is why why you end up with not enough money to retool SHAP properly, the Compass is totally mediocre outside of Trailhawk, and no new FCA US passenger cars for the next 3 years.

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