60 Minutes Sunday: Chrysler’s Sergio Marchionne

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60 Minutes Feature Sunday :

Chrysler’s Sergio Marchionne Says Turning Around the Automaker was a Long Shot that Auto CEOS would not have Touched Three years ago, when Fiat CEO Sergio Marchionne decided he would try to turn around beleaguered car maker Chrysler, he knew it was a longshot. As for any other CEOs in the car business, they wouldn’t “have touched this with a ten-foot pole,” he tells Steve Kroft.

But he took the deal to take a stake in the ailing company from the U.S. Government – part of the Obama administration’s auto bailout of the car industry – and beat the odds. In a rare television interview, Marchionne takes Kroft through the process of transforming the floundering company into a profitable contender in the world auto market for a 60 MINUTES report to be broadcast Sunday, March 25

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'60 Minutes' to train its cameras on Chrysler's Sergio Marchionne on Sunday

March 23, 2012



The improbable turnaround of Chrysler along with Chrysler and Fiat Sergio Marchionne will be featured on Sunday by "60 Minutes" reporter Steve Kroft.

For the story, Kroft interviewed Marchionne in both Auburn Hills and Turin, Italy, and also traveled to Chrysler’s Belvidere, Ill., assembly plant to see Marchionne announce 1,800 new jobs for the plant.

According to "60 Minutes," Marchionne takes Kroft through the process of transforming the floundering company into a profitable contender in the world auto market.

The story recounts how close Chrysler was to total collapse in 2009 before Fiat took a controlling stake. At the time, Chrysler was in Chapter 11 bankruptcy and it needed government loans to survive.

“There wasn’t a CEO in the world from the auto side that would have touched this with a 10-foot pole,” Marchionne tells Kroft.

Now, it’s Chrysler that is propping up Fiat. The company repaid all of the loans it owed to the U.S. and Canadian governments last May.

In 2011, Chrysler earned a profit of $183 million — its first since 2005. Fiat, however, would have lost money without Chrysler’s improving performance and profits.

"60 Minutes" visited Belvidere because the company has begun assembling the all-new Dodge Dart there. The Dart is the first car to be produced with a Fiat platform and is expected to be the automaker’s first credible compact car since Dodge Neon was introduced in the early 1990s.

SOURCE

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Chrysler Group Chairman and CEO Sergio Marchionne on CBS News 60 Minutes “Resurrecting Chrysler" with Steve Kroft

Sergio Marchionne is Chairman and Chief Executive Officer of Chrysler Group LLC; Chief Executive Officer of Fiat S.p.A., as well as Chairman of Fiat Industrial S.p.A. and CNH Global N.V.


March 25, 2012 , Auburn Hills, Mich. - Chrysler Group LLC Chairman and CEO Sergio Marchionne was featured on CBS News 60 Minutes during the "Resurrecting Chrysler” segment with correspondent Steve Kroft. The transcript is available here.


The segment can be viewed at the following link: Sergio Marchionne: Resurrecting Chrysler - CBS News


Transcripts are also included for three "web extras" located at Latest Miscellaneous Videos - CBS News.

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