FCA Announcement: Sergio Marchionne - Dodge Nitro Forum
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post #1 of 6 (permalink) Old 07-21-2018, 03:02 PM Thread Starter
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Exclamation FCA Announcement: Sergio Marchionne

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.

Michael Manley was appointed Chief Executive Officer of Fiat Chrysler Automobiles N.V. and Chief Operating Officer of the NAFTA region on July 21, 2018.

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.

About FCA

Fiat Chrysler Automobiles N.V. (“FCA”) is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA”.

The transaction was executed by FCA’s wholly owned subsidiary, FCA US LLC. Headquartered in Auburn Hills, Michigan, FCA US LLC designs, engineers, manufactures and sells vehicles under the Chrysler, Jeep, Dodge, Ram and FIAT brands, as well as the SRT performance vehicle designation. The company also distributes Alfa Romeo and Mopar products. FCA US is building upon the historic foundations of Chrysler, the innovative American automaker first established by Walter P. Chrysler in 1925, and Fiat, founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli.

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post #2 of 6 (permalink) Old 07-21-2018, 03:06 PM Thread Starter
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Statement from John Elkann, Chairman of Exor

Statement from John Elkann, Chairman of Exor


July 21, 2018 , London, UK -

I am profoundly saddened to learn of Sergio’s state of health. It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice.

My first thoughts go to Sergio and his family.

What struck me about Sergio from the very beginning, when we met to talk about the possibility of him coming to work for the Group, even more than his management skills and unusual intelligence, were his human qualities, his generosity and the way he understood people.

Over the past 14 years together we have lived through successes and difficulties, internal and external crises, but also unique and unrepeatable moments, both personal and professional.

For so many, Sergio has been an enlightened leader and a matchless point of reference.

For me, he has been someone with whom to share thoughts and in whom to trust, a mentor and above all a true friend.

He taught us to think differently and to have the courage to change, often in unconventional ways, always acting with a sense of responsibility for the companies and their people.

He taught us that the only question that’s worth asking oneself at the end of every day is whether we have been able to change something for the better, whether we have been able to make a difference.

And Sergio has always made a difference, wherever his work took him and in the lives of so very many people.

Today, that difference can be seen in the culture that he introduced in all the companies he has led, a culture that has become an integral part of each and every one of them.

The succession plans we have just announced, even if not without pain from a personal point of view, mean we can guarantee the maximum possible continuity, preserving our companies’ unique cultures.

It has been my privilege to have had Sergio at my side for all these years.

I would ask everyone for their understanding in these circumstances and to respect Sergio’s privacy and that of those who are dear to him.

Rick

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post #3 of 6 (permalink) Old 07-23-2018, 02:09 PM Thread Starter
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Fiat Chrysler loses another executive after Marchionne illness

Fiat Chrysler loses another executive after Marchionne illness

07/23/2018

MILAN (Reuters) - New Fiat Chrysler (FCHA.MI) boss Mike Manley was handed extra responsibilities for the carmaker’s European business on Monday when a fellow executive quit after being passed over for the top job, adding to the challenges Manley faces.

Jeep division head Manley was named on Saturday to succeed Chief Executive Sergio Marchionne, one of the auto industry’s most tenacious and respected leaders, who fell seriously ill after suffering complications following surgery.

Fiat Chrysler Automobiles (FCA) said on Monday that Alfredo Altavilla, head of its business in Europe, Middle East and Africa had resigned and those responsibilities would go to Manley on an interim basis.

Altavilla, who joined Fiat in 1990, had been a rival for the top job along with Manley and CFO Richard Palmer.


SOURCE

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post #4 of 6 (permalink) Old 07-25-2018, 07:54 AM Thread Starter
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Passing of Sergio Marchionne.

EXOR announcement
July 25, 2018 , Amsterdam - It is with the deepest sadness that EXOR has learned of the passing of Sergio Marchionne.


John Elkann said: “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.

"I believe that the best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion.

"My family and I will be forever grateful for what he has done. Our thoughts are with Manuela, and his sons Alessio and Tyler.

"I would ask again everyone to respect the privacy of Sergio’s family.”

Rick

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post #5 of 6 (permalink) Old 07-31-2018, 08:02 PM Thread Starter
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FCA didn't have prior knowledge of Marchionne's illness

FCA didn't have prior knowledge of Marchionne's illness

July 30th 2018

Sergio Marchionne's resignation from the top post at Fiat Chrysler Automobiles on July 21 due to health reasons and his subsequent death four days later came as a shock to many, including close employees at the automaker he ran.

Quote:
This is despite Marchionne having had received treatment from University Hospital Zurich for more than a year, which the Swiss hospital confirmed on Thursday.

Italy's Lettera43 reported Tuesday that Marchionne underwent surgery at University Hospital Zurich for an invasive shoulder sarcoma and had suffered a cerebral embolism during the procedure, which plunged him into a coma.

A spokesman for FCA told Reuters in an interview published Thursday that the lack of knowledge of Marchionne's poor health was due to medical privacy. He revealed that FCA only learned from family members on July 20 that Marchionne would be unable to return to work due to serious complications following surgery he had undergone at University Hospital Zurich.
SOURCE

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post #6 of 6 (permalink) Old 09-27-2018, 02:03 PM Thread Starter
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Sergio Marchionne Memorial Fact Sheet
Event Facts


The private memorial was held on Thursday, Sept. 27, from 11:30 a.m. – 12:30 p.m. (EDT) at Tech Plaza, inside the FCA Chrysler Technology Center in Auburn Hills, Michigan.
Tech Plaza is the same location where Marchionne stood in 2009 during his inaugural address to employees. It is a four-story, cylindrical cut-out at the heart of the Auburn Hills facility.
Thousands of employees gathered to watch the event through a variety of means: live in Tech Plaza or in-person at one of six large viewing locations throughout the 5.4 million-square-foot building.
Speakers at the memorial included John Elkann, Chairman of FCA, and Mike Manley, CEO of FCA.
Plant managers from 25 facilities were in attendance representing North American workers.
During his speech, Elkann officially renamed the company’s scholarship program, formerly the FCA Student Achievement Awards, to the “Sergio Marchionne Student Achievement Awards.” Established in 1996, the worldwide program recognizes eligible children of employees studying in high school, college or university. Each year, the program supports approximately 2,000 young people in their studies.


Quotes from Speeches
John Elkann, Chairman of FCA
“He taught us to think differently. To have the courage to change and act. To be unafraid. He taught us that the most important question to ask ourselves at the end of every day is whether we have been able to change something for the better. And Sergio did so, wherever his work took him and in the lives of so many people.”

“He was not a man of perhaps and maybe. He took decisions, never shying away from issues, as tough as they might be. His role as CEO was always about responsibility, never privilege. And he constantly lived to that responsibility.”

“We will continue to reach higher levels of performance, which is what really mattered to Sergio: the pursuit of excellence, the idea that there is always a better way. He set us a powerful example through his humanity, his determination never to accept the status quo, never to be satisfied with good enough and never settling for mediocrity. As we come to an end to this Memorial – of who to me was a true friend and whom I miss very much – I hope we can all find some comfort in knowing that his example is something we will continue to carry with us.”

Mike Manley, CEO of FCA
“I was lucky enough to become part of his world nine years ago. The years since then have been the most intense, absorbing and engaging of my life. I have said publicly that working with Sergio was a business education that you could not buy regardless of how much you wanted to spend, what I did not say publicly was that for me, it was also a journey of personal growth – he gave me the space to understand who I am and pushed me to explore my full potential.”

“Inheriting such a legacy is no easy task, but one thing I will not try to do is be Sergio. He was and will always remain a unique leader. I will do my best to preserve his legacy, to ensure this company continues to nurture and develop the values that are essential to its success, to retain the respect of our competitors and the confidence of the financial community and, above all, to guarantee the dignity of everyone who is a part of this incredible organization. I will do my best to honor Sergio’s memory. And the greatest tribute we can pay Sergio is to continue doing what we do and – as he taught us – constantly strive to do it better.”

Rick

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