The death of Sergio Marchionne leaves a big gap at FCA

THE question of who would replace Sergio Marchionne has been in the air for a year or more, ever since the chief executive of Fiat Chrysler Automobiles (FCA) announced that he would step down in 2019. But the way the answer came was both shocking and sad. Mr Marchionne’s death, at the age of 66, was announced on July 25th, the result of complications after an operation. A sudden deterioration in his health had already forced FCA’s board to meet on July 21st to confirm that Mike Manley, boss of the Jeep and Ram brands, would take his place.

Mr Manley had little time to establish himself before coming under scrutiny. He opened a presentation of the firm’s second-quarter results on July 25th with a tribute to a “special, unique man”. Although he had to explain falling revenues and profits and a cut in forecasts for 2018 that sent the firm’s shares into a steep slide, he also confirmed that it was at last free of debt, one of Mr Marchionne’s main aims for FCA. The former CEO had...

via Business Feeds

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