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Discussion Starter #41
Fiat Makes Biggest Europe Push

Fiat Makes Biggest Europe Push in Decade to Rescue 2018 Strategy

March 1, 2016



Carmaker showing 10 new models at Geneva Motor Show this week
New vehicles range from luxury SUVs to no-frills small cars




Fiat Chrysler Automobiles NVis embarking on its biggest expansion in Europe in at least a decade, as the Italian-American carmaker faces crunch time in a strategy to more than double profit by 2018.

After delaying investment in the region for years, Chief Executive Officer Sergio Marchionne is going all-in at the Geneva International Motor Show this week with 10 new or refreshed models, ranging from the affordable Fiat Tipo to the upscale Maserati Levante sport utility vehicle. Alfa Romeo is a particular focus with entry-level and performance variants of the new Giulia sedan, as well as refreshed styling and upgraded features on the Giulietta hatchback.

"With the new models coming to market -- including the Tipo hatchback and full lineup of the Alfa Giulia -- we expect to consolidate the improving trend we are encountering in Europe,” Alfredo Altavilla, who runs Fiat’s operations in the region, said in an interview Tuesday at the show.

While the about-face in Europe is partially a sign of the market’s recovery, Marchionne also has few other options. Fiat’s once-lucrative business in Latin America is struggling because of a slump in Brazil, while prospects in China and the U.S. are uncertain. That makes Europe particularly critical for the executive, who has a lot riding on his 2018 strategy including personal holdings of about $94 million in Fiat stock.
Europe Comeback

“Fiat is showing the results of its strategy aimed at selling higher-margin cars in the European market,” said Ian Fletcher, an analyst with IHS Automotive in London. “There is clearly a comeback in Europe as the region is surprising several automakers for still being a very valuable market.”

Marchionne will need the new cars -- which includes the Fiat 124 Spider roadster, built in Japan in partnership with Mazda Motor Corp. -- to be immediate sales successes to overcome skepticism about his targets. The 2018 goals also include eliminating 5 billion euros in net industrial debt and generating a cash surplus of 4 billion euros. Amid the doubts, Fiat shares have tumbled 24 percent this year, making it the worst performing major automaker.

The new push in Europe may be helped by fortunate timing. In addition to rebounding overall demand, Volkswagen AG, Europe’s largest automaker, is sidetracked by its efforts to find a way out of the emissions-cheating scandal. The combination could help Fiat gain market share. Its European sales are projected to climb by 7.7 percent to 1.26 million cars in 2016, outpacing an industrywide 1.8 percent gain, IHS Automotive estimates.

"Helped by the introduction of new models, we expect Fiat to outperform in the European market this year," said Massimo Vecchio, an analyst at Mediobanca in Milan. Vechio sees Fiat sales increasing about 8 percent in the region in 2016 -- double his forecast for the overall market increase.
Dual Strategy

Fiat’s Geneva push is the result of a dual-strategy for Europe: upscale cars built in its home country to leverage the "Made-in-Italy" allure for the Maserati and Alfa Romeo marques and no-frills vehicles for the namesake brand made in places with lower labor costs.

The carmaker said it already has 20,000 orders for the Tipo sedan, which has a base price in Italy of 12,500 euros ($13,600). All the Tipo models are produced at the Bursa plant in Turkey as part of a joint venture with Tofas.

Marchionne in January tweaked his 2018 strategy to adapt to new market conditions, including slower growth in China. In doing so, the Italian-Canadian CEO postponed the introduction of bigger Alfa Romeo models -- primarily for China -- in favor of updated versions of the nameplate’s top selling MiTo and Giulietta hatchbacks for Europe.

"With the auto industry facing major technological changes in the next decade -- with possibly new players coming from outside the auto-industry -- Fiat is tactically focusing on segments and markets where it sees faster and more certain returns," said Giuliano Noci, a marketing professor at Milan Polytechnic. "Before pushing for massive investments destined for an uncertain Chinese market, it makes sense to widen offerings in a market you know so well as Europe."
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Discussion Starter #42
Sergio Marchionne Named as Ferrari’s New CEO

Sergio Marchionne Named as Ferrari’s New CEO

May 02, 2016



Ferrari has named its new CEO.

The company has confirmed that Amedeo Felisa has retired after 26 years of service to the Italian automaker, relinquishing his title of CEO to Sergio Marchionne, who is also the CEO for Fiat Chrysler Automobiles (FCA), Ferrari’s parent company. Marchionne will assume the responsibilities of CEO effective immediately and will continue to serve as chairman of the company. Felisa won’t entirely leave Ferrari, however, and will continue to serve on the board of directors with a specific mandate as technical advisor.

“I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years,” said Marchionne. “He is beyond any doubt one of the best automotive engineers in the world. During the last 26 years, he has worked tirelessly to fuel and guide Ferrari’s technical development, producing an array of cars which have set the standard for both performance and styling.”


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Fiat Chrysler shakes up quality, purchasing execs

Fiat Chrysler shakes up quality, purchasing execs

May 10, 2016



Fiat Chrysler Automobiles NV is shaking up executives in an effort to better focus and align global quality and purchasing.

The automaker on Tuesday named Scott Garberding its head of global and North American quality. Garberding, 52, was most recently global chief purchasing officer, with direct responsibility for European operations.


Mark Chernoby, 54, had been Fiat Chrysler’s global head of quality since October 2014. He will retain his positions as chief operating officer of product development and head of product portfolio management.

Scott Thiele will succeed Garberding as Fiat Chrysler chief purchasing officer. He also will assume responsibility for the North America purchasing. Thiele, 46, was previously vice president of global product finance. He joined the company in 2007.

Thiele also is appointed to Fiat Chrysler’s Group Executive Council, the company’s highest decision-making body outside of its board of directors. Garberding and Chernoby will remain on the council.

The changes are effective immediately. They also include two North American-based executives moving to Fiat Chrysler subsidiaries.

Matt Liddane, Fiat Chrysler vice president of quality for North America, will lead quality at the automaker’s auto supplier subsidiary Magneti Marelli. Liddane, 53, has been with the company for nearly 30 years.

Thomas Finelli, 45, Fiat Chrysler vice president of purchasing and supplier quality for North America, will head purchasing for Comau Inc., a robotics automation company. He joined the automaker in 1995 as an engineer responsible for truck safety systems.

The executive shake-up is the most significant to the company’s quality department since Fiat Chrysler Chief Quality Officer Doug Betts was replaced by Chernoby and Liddane in October 2014.

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Marchionne to stay at FCA till 2019

Marchionne to stay at FCA till 2019


(ANSA) - Milan, May 25 -

Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne won't leave the Italo-American group "before 2019," President John Elkann said Wednesday at a shareholders meeting of Agnelli holding company Exor. "Waiting for the approval of the 2018 results means arriving at 2019," he said.

"The process of selecting a successor will take place within (the group), we are working on it. I will not be part of the candidates for the position of CEO". Italo-Canadian Marchionne, 63, Fiat CEO since 2004, is credited with turning the carmaker round and forging a strategic alliance with Chrysler in 2009.


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Fiat Chrysler Automobiles named to Dow Jones

FCA Group - Official Global Website / Media / Press Releases / 2016 / September / Fiat Chrysler Automobiles named to Dow Jones Sustainability Index World

Fiat Chrysler Automobiles named to Dow Jones Sustainability Index World


Fiat Chrysler Automobiles has once again been included in the prestigious Dow Jones Sustainability Index (DJSI) World. The Company received a score of 87/100 compared with an overall average of 54/100 for companies in the Automobiles industry evaluated by RobecoSAM, the specialist in sustainability investment.

This result places FCA’s economic, environmental and social performance among the world’s leading companies and reflects the Company’s efforts to participate in the transition to a circular economy.


Membership in the DJSI World Index is limited to organizations judged best-in-class when compared to the majority of their peers based on selected sustainability criteria. RobecoSAM invited 36 Automobiles sector companies and ultimately admitted only 4 to the DJSI World Index.

The Group achieved the highest score in its industry sector for climate strategy and environmental reporting, brand management, supply chain management and overall in the social dimension, that includes aspects such as talent attraction and retention and human capital development.

FCA continued to make considerable progress in 2015 and 2016, demonstrating its capabilities as a global automaker that strives to achieve success responsibly:

Chrysler Pacifica Hybrid, the industry’s first electrified minivan, unveiled in January 2016

Jeep Grand Cherokee EcoDiesel named 2015 Green SUV of the Year by Green Car Journal

Leadership in Europe for natural gas vehicles, with a market share of about 50%

Further growth in R&D with €4.1 billion invested in 2015

Announced collaboration on Autonomous Driving Project with Google

Uconnect® received the Infotainment of the Year award from Digital Trends

ENJOY car-sharing, launched in 2013 by ENI in partnership with FCA, registered more than 420,000 subscribers and five million rentals in Italy since launch

Recognition of advanced safety technologies and performance for several FCA models, including the U.S. NCAP 5 stars for the Dodge Challenger and Top Safety Pick+ for the Fiat 500X and Chrysler 200 and, recently, the EURO NCAP 5 stars for the Alfa Romeo Giulia

Low carbon logistics fleet implemented in North America with 179 new Compressed Natural Gas trucks

Support of climate-specific commitments through UN Climate Change Conference of the Parties (COP21)

Verrone (Italy) plant won the prestigious Automotive Lean Production Award 2015

Melfi (Italy) Assembly Plant won the prestigious Special Award Original Equipment Manufacturing: SMART Digital Operations 2016

More than 4,300 new environmental projects implemented at FCA plants worldwide, leading to about €65 million in savings

Best Employers for Healthy Lifestyles Gold Award received in the U.S.

Additionally, the Group continued to reduce the environmental footprint of its worldwide manufacturing plants, resulting in a 23.4% decrease in CO2 emissions per vehicle produced compared with 2010, and savings of 2.3 billion m3 of water.
Resources committed by the Group to benefit local communities amounted to more than €22 million, of which 53% to support education, culture and art.

FCA was also named to the Climate “A” List in the CDP Climate Change Program 2015 and achieved a transparency score of 98/100. Only 5% of the corporations participating in this CDP program are named to the A List. FCA is a member of numerous other leading indices including: STOXX Global ESG Leaders, STOXX Global ESG Environmental Leaders, STOXX Global ESG Social Leaders, STOXX Global ESG Governance Leaders, ECPI Euro Ethical Equity, ECPI EMU Ethical Equity and ECPI Global Developed ESG Best in Class Equity, Parks GLBT Diversity Index.

 

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Discussion Starter #46
Grandson of the Italian Founder of Fiat Arrested

Fiat scion held after false report in US

November 29, 2016

Police in New York City say a grandson of the Italian founder of Fiat Automobiles has been arrested after falsely claiming an escort held him against his will.

A law enforcement official said on Tuesday that Lapo Elkann demanded $US10,000 ($A13,355) from his family to guarantee his safety.


Police say his family called authorities, and investigators determined the 39-year-old Elkann concocted the story.

The official says Elkann had been taking drugs and drinking alcohol with the escort for two days before his arrest on Saturday.

The official wasn't authorised to discuss the ongoing case and spoke on condition of anonymity.

Elkann was charged with misdemeanor falsely reporting an incident. He was given a ticket. He's due back in court on January 25.

His publicist declined to comment.

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Fiat Heir Allegedly Faked His Own Kidnapping

Fiat Heir Allegedly Faked His Own Kidnapping to Pay for Thanksgiving Weekend Drug Binge

Nov 30, 2016



Fiat heir Lapo Elkann, 39, allegedly faked his own kidnapping during a Thanksgiving weekend bender in order to get ransom money to pay for the drug binge.

Elkann, the grandson of the late Fiat Automobiles patriarch Gianni Agnelli, was taken into custody by the NYPD and charged for falsely reporting the incident.

The New York Daily News claims that Elkan, the brother of FCA Chairman John Elkann, spent most of the holiday in a Manhattan housing project enjoying a multi-day drug marathon. The Italian heir flew into New York on Thursday and reportedly called a number of escort services in the city before settling upon an escort who had contacts to get marijuana and cocaine.

According to sources, the escort paid for additional drugs, and Elkann agreed to pay her back. The cash-strapped millionaire then attempted to get his hands on $10,000 by allegedly contacting his family, claiming he had been kidnapped by the escort. A family representative contacted local authorities and arranged a meeting for the exchange. However, when both Elkann and the escort appeared at the drop-off location, police brought them in for questioning.

An NYPD spokesperson said that Elkann eventually filed a report, leading to the arrest of 29-year-old Curtis McKinstry on a charge of grand larceny by extortion. Further investigation of the matter resulted in the charges against McKinstry being dropped. Police then charged Elkann with a misdemeanor for falsely reporting an incident.

A day before departing for New York, Elkann posted a video on his Instagram account in which he claims, “I’ll be seeing many interesting characters in the creative field and in the entrepreneurial field in the next few days.” He also posted during the weekend’s stay-in spree, including an interior shot of the Lamborghini Miura and a photo of Steve McQueen, where he wrote, “Speed is Everything never Stop.”

Elkann had a highly publicized near-death overdose in 2005 in the Turin apartment of a prostitute. However, recent pieces in Vanity Fair and Forbes covered how well he had bounced back, creating the Italia Independent sunglasses brand and his Independent Ideas advertising firm.



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FCA Announces Senior Leadership Changes

FCA Announces Senior Leadership Changes

January 11, 2017 , London -

Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) announces the following leadership changes with immediate effect.

Daphne Zheng is named as the Chief Operating Officer (COO) of China. Zheng, who has been with FCA for more than eight years, most recently served as the Managing Director of the Sales Joint Venture in China with Guangzhou Automotive Group (GAC), and has previously held senior positions in Sales and Marketing with FCA in China.

Paul Alcala is named Chief Operating Officer of the Asia Pacific regions, excluding China. Alcala, a 29-year veteran of FCA, most recently served as the head of China Developments for the Manufacturing and Sales Joint Ventures in China with GAC. Alcala previously held a number of operational leadership roles in Europe, Latin America, and the U.S.

Both Zheng and Alcala will join the Group Executive Council (GEC) of FCA which is chaired by the Chief Executive and is the highest management body in FCA.

Mike Manley who has led the Asia Pacific region until now, will continue serving on the GEC and as the Head of Jeep and Ram brands globally.

“Mike has established a strong foundation for growth in the last five years, and these leadership appointments in the APAC region will ensure he can now focus his efforts on our growth plans for both the Jeep and Ram brands, in the USA but more importantly in international markets. Mike will drive our unprecedented product cadence that begins with the production of the all-new Jeep Compass this month, the launch of the all-new Wrangler at the end of this year, and extends to our recently announced plans for an all new Ram Light Duty Truck, Jeep pick-up truck and Wagoneer/Grand Wagoneer,” added Sergio Marchionne, Chief Executive Officer of FCA. “The achievement of the 2018 plan depends in large part to the establishment of Jeep as the undisputed global leader in the SUV space, and Mike has been tasked with that objective. He and I will be working together to ensure that our operating regions respond efficiently to this challenge.”

In further announcements, Davide Mele is appointed Deputy COO Latin America, reporting to Stefan Ketter who is the COO of Latin America and FCA’s Chief Manufacturing Officer. Mele most recently served as the Head of FCA Group Controlling, and previously held the position of Chief Financial Officer Latin America.
 

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Discussion Starter #49
US drops case against Fiat heir

US drops case against Fiat heir Gianni Agnelli arrested for faking kidnapping

According to several US media outlets, Lapo Elkann, the grandson of legendary Fiat founder Gianni Agnelli, tried to make his family believe he had been kidnapped when he ran out of money during a two-day bender of sex and drugs.

January 26, 2017

NEW YORK: US authorities have decided not to charge an heir to the Fiat auto fortune who was arrested for allegedly faking his own kidnapping to pay for a weekend of debauchery, officials said today.

According to several US media outlets, Lapo Elkann, the grandson of legendary Fiat founder Gianni Agnelli, tried to make his family believe he had been kidnapped when he ran out of money during a two-day bender of sex and drugs.

The 39-year-old Italian playboy reportedly spent that time with a transgender prostitute, with whom he consumed alcohol, marijuana and cocaine before running low on funds, the reports said.

He reportedly came up with the plan to ask his family for USD 10,000 in ransom to pay for more drugs, US media said.

The family alerted police, who arrested Elkann after determining his claims were false.

Elkann was ordered to appear in a New York court for falsely reporting an incident. Police have not said if Elkann was found with a prostitute or whether drugs were involved.

But Manhattan prosecutors ultimately decided not to charge him and to drop the case, a spokesman for their office told AFP.

Elkann's brother John took over the helm of the Agnelli empire in May 2008, becoming the head of the company that manages the family's holdings.

The Agnelli family controls about a 30 per cent stake in Fiat, and 44 per cent of the voting rights.

Elkann made headlines in 2005 when he slipped into a coma after a drug overdose -- also reportedly while in the company of a prostitute.
Elkann briefly held a job in Fiat's marketing department, but then moved on to other projects. He is one of the founders of the eyewear brand Italia Independent.

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Fiat Chrysler CEO took pay cut last year

Fiat Chrysler CEO took pay cut last year

Feb. 28, 2017

DETROIT -- Fiat Chrysler Automobiles CEO Sergio Marchionne received $11.99 million in total compensation in 2016, or about six times less than he was paid for the prior year, the company said in an annual report Tuesday.

Marchionne's total compensation for 2016 includes a $4 million base salary, a $6.97 million bonus and $1.02 million in "other non-cash compensation," which includes insurance premiums, tax preparation and tax equalization. Fiat Chrysler reports its compensation in euros. Those figures were converted to dollars using the average dollar to euro value over the past year.


Fiat Chrysler's two crosstown rivals, Ford Motor and General Motors, are yet to disclose executive pay for 2016.

The value of Marchionne's compensation fell dramatically compared with an estimated $73.6 million he received in 2015 because none of the shares Marchionne has received as part of a long-term incentive plan vested, or were received as cash, last year. Marchionne also wasn't granted any new shares by the company in 2016.

The automaker, like many companies, says its compensation policies are designed to reward "the achievement of long-term sustainable performance."

In 2016, Fiat Chrysler achieved record results that were driven by strong performance in North America and improvements in all other regions, especially Europe and globally with its Maserati brand. Fiat Chrysler earned a net profit of $1.9 billion for 2016 compared with just $100 million during the prior year.

That performance, according to the company, justified Marchionne's multi-million dollar bonus.

"We exceeded our full-year guidance in all key metrics, made all the more significant by the fact that our targets were revised upward twice during the year," the company said in its annual report. "In addition, all of our segments were profitable and showed improvement over the prior year."

The calculation of Marchionne's total compensation excludes a $6.79 million bonus Marchionne will receive later this year as part of his 2017 compensation.
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Discussion Starter #51
Maserati’s U.S. Headquarters Moves

Maserati’s U.S. Headquarters Moves Into the Former Walter P. Chrysler Museum



Late last year, the Walter P. Chrysler Museum, founded in 1999, unfortunately closed its doors to the public for the very last time. Right after the Chrysler-based museum ceased operation, it was reported that the building would be converted into some sort of office building for the Fiat Chrysler brand.

Now we know precisely what kind of business those offices will house. Maserati’s U.S. Headquarters is moving into the former Chrysler Museum.


Currently, Maserati’s North American headquarters is located in Englewood Cliffs, New Jersey. Once the move is completed later this year, all operations will be transferred into the currently defunct building, which is located 25 miles north of Detroit.

The change in location is a strategic one for Fiat Chrysler Automobiles. The rest of its brands are operated primarily around the Detroit metro area, so moving Maserati closer to the Motor City will decrease travel expenditures while improving corporate communication.
Could this be a sign of Maserati formally signing onto Fiat Chrysler Automobiles?

When Fiat and Chrysler combined into one entity in 2014, Maserati continued to maintain its own separate corporate identity, and has done so ever since. Nevertheless, this move could hint at Maserati finally formally joining the Fiat Chrysler family.

For the time being, however, it would seem that no change in autonomy is on the horizon for Maserati.

“The idea is to bring us into Auburn Hills while remaining distinct and separate from the other FCA brands,” stated Tom Shanley, head of Maserati North America. “We have our separate office space. We will be sharing that office space with Alfa Romeo.”

Whether this leads to Maserati finally becoming a part of Fiat Chrysler Automobiles or not, it’s still nice to know that the former home of so much Chrysler history is at least being put to use for something important.

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Discussion Starter #52
Fiat Chrysler Automobiles (FCA) designs, engineers, manufactures and sells passenger cars, light commercial vehicles, components and production systems worldwide. The Group’s automotive brands are: Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, SRT and Maserati, in addition to Mopar, the parts and service brand. The Group’s businesses also include Comau (production systems), Magneti Marelli (components) and Teksid (iron and castings). Formed in 2014 through the merger of Fiat (founded in 1899) and Chrysler (founded in 1925), FCA is listed on the New York Stock Exchange (“FCAU”) and the Mercato Telematico Azionario in Milan (“FCA”).

Fiat Chrysler Automobiles N.V.
Corporate Office:
25 St James's Street​
London SW1A 1HA
​United Kingdom
 

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Discussion Starter #53
Fiat 28-Liter Beast Of Turin

"It's like wrestling a big hairy gorilla!" | Beast of Turin graces #75MM

Jun 10, 2017

Taming a V-8 powered sports car isn't necessarily the easiest task ever, but modern day technology makes it simpler than ever for novice drivers to climb behind the wheel.

Back in 1911, it took a little more skill—and a lot more elbow grease.

The 1911 Fiat S76 is colloquially known as the "Beast of Turin," thanks to its massive 28-liter inline-4 engine. The giant engine was able to produce 300 horsepower—in 1911. It could also top out at 135 mph, and achieved a land-speed record by doing so.

So, what's it like to drive? "It's like wrestling a big, hairy gorilla," driver Duncan Pittaway said of the experience. The Beast of Turin made an appearance at the 75th Annual Members Meeting at Goodwood. There's no missing the giant Fiat, either. Not only is it massive in size, but the noises it makes upon cranking the engine over—literally cranking the engine with plenty of muscles—are enough to blow ear drums a mile away. When the Fiat S76's engine is spinning at 300-400 rpm, speeds reach highway levels. 1,000 rpm means the car is going 128 mph. A gorilla of sorts, indeed.

Pittaway spent 10 years restoring the S76 and it's the only surviving example. Fiat built two, but it's presumed the second no longer exists.
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FCA Announces New Appointment

FCA Announces New Appointment

August 31, 2017 , Auburn Hills, Mich. -



Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU MTA: FCA) today announced the appointment of Mike Keegan as its Head of Communications. In this newly created role, Keegan will assume responsibility for corporate and product communications for the Group, in close coordination with the regions and business sector communications teams. Keegan will also oversee the Company’s Investor Relations activities and assume direct responsibility for Communications in North America.

“Mike brings a wide range of experience across our organization including roles in Finance, Sales, Supply Chain Management and Human Resources. This background, along with his lifelong association with the industry and company makes him the ideal person to coordinate communication of FCA’s culture and values and to support our brands, new products and technologies, as well as our regional business operations,” said Sergio Marchionne, Chief Executive Officer (CEO) of FCA.

Keegan has more than 25 years experience with the Company where he most recently served as Head of Human Resources, North America and Coordinator of the Group Executive Council (GEC). He will continue to report to the CEO and will also continue in his GEC coordination role.
 

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Into the future

Into the future

29 December 2017


Chief Executive Sergio Marchionne will soon be heading for Fiat Chrysler’s off ramp. As directors consider who should succeed him, Breakingviews imagines what advice a consultant might give.

Distinguished members of the FCA board,

Thank you for giving us the opportunity to share our thoughts on Fiat Chrysler Automobiles, after Sergio Marchionne’s planned 2019 departure. His extraordinary achievements, unique management style and dominant presence will be a tough act to follow.

Marchionne was the right person for the job, despite a lack of industry experience when he took the wheel in June 2004. His direct, pugnacious and intrepid approach was what was needed to turn around a moribund Fiat and get insolvent Chrysler back on the road.

Shareholders, including top owner Exor, have so far received a 900 percent total return on FCA stock, 2.6 times the industry average. Those who held on to their stakes in spun-off CNH and Ferrari have even more to cheer about. Combined, these two were worth $37 billion as of Dec. 7, 45 percent more than their erstwhile parent company.


There are, however, gaps to be addressed: FCA’s pretax margin may almost double to 5.3 percent in 2017, an admirable achievement. But it remains lower than most competitors and the company is subscale – points Marchionne has acknowledged.

Spending a lot more time both in and on China is critical for Marchionne’s replacement. The Middle Kingdom is now the world’s biggest car market: vehicle sales surpassed 28 million in 2016, about a third of global demand.

FCA’s 2014 deepening of its alliance with Guangzhou Automobile Industry Group has not gone far enough. Its sales were 176,000 in 2016 against about 4 million for VW. Your company is falling a long way short of its 2014 goal of selling 850,000 vehicles by 2018.

Next, the new chief needs a solid understanding of the tech world to steer FCA through unprecedented industry disruption. Marchionne has been reluctant to make big financial bets in new technology, in large part because he has been a vocal sceptic of electric cars.

He has a point. Questions remain about the environmental impact of lithium batteries and the availability of cobalt and other materials. Now, though, China is vowing to ban petrol and diesel cars by 2040, so having battery-powered vehicles will be essential to compete. France and the United Kingdom are talking a similar line.

Fiat Chrysler also lags rivals in connected and autonomous cars, having outsourced most work to Alphabet’s Waymo. Such a conservative R&D approach made sense given FCA’s high debt. And getting regulators and customers comfortable with self-driving vehicles may well take a while. Marchionne has been speeding up in this area lately. But General Motors’ plan to get robo-taxis in U.S. streets by 2019 suggests FCA needs to move even faster.

That brings us on to our next point. M&A skills, a defining Marchionne trait, remain a requirement. Preparing FCA for the future calls for more joint ventures, taking stakes in startups or buying them outright. The prospect of FCA merging with a more traditional rival currently appears to be off the table, but it cannot be ruled out; as Marchionne himself said in his 2015 presentation “Confessions of a Capital Junkie”, carmaker returns are being hurt by each of them spending vast amounts replicating basic or non-differentiating functions. The push for electric and autonomous vehicles will exacerbate this.

We would also caution against choosing just one replacement for Marchionne. There’s no need for joint CEOs. But we’d note that Marchionne put on too many hats. He runs the entire company, is chairman and CEO of both North America and Ferrari, where he’ll stay on after leaving FCA, and is chair of Maserati and CNH.

We laud your decision to seek stability by looking to promote people who are graduates, shall we say, of the “Marchionne School”. Finance chief Richard Palmer, Jeep boss Michael Manley and EMEA Chief Operating Officer Alfredo Altavilla are all worthy choices. But we urge you not dismiss the idea of outside candidates, if only for some of the roles below the CEO level.

Finally, the sooner you can announce the new CEO, the better. Marchionne is planning to unveil a new five-year plan in 2018. That could constrain his successor, who needs to own the plan, not simply inherit it. After all, FCA does not need a Marchionne copycat, but someone who can decisively drive it into the future.

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Company Can Double Profit Within Five Year

Fiat Chrysler CEO Reportedly Expects Company Can Double Profit Within Five Year

Jan. 14, 2018

Fiat Chrysler Automobiles NV (FCAU) Chief Executive Officer Sergio Marchionne reportedly said the company can double profit within five years by exploiting the potential of the Jeep brand.

With the offroad nameplate in position to grab as much as 20 percent of the global SUV market and coffers padded by lower U.S. taxes, it will be his successor who carries out the strategy. Marchionne was steadfast in his commitment to retire from Fiat in early 2019 after 15 years, succeeded by one of his lieutenants, report quoted Marchionne as saying.

"There's nothing which can tell me that Jeep could not own one in five SUVs," equivalent to about 5 million deliveries a year, Marchionne reportedly said. "If that's true, the upside for FCA -- we are just beginning to skim the surface."

If Jeep can reach these targets, it would mean "the profitability of this house is going to be multiples on what it makes now" and doubling profit by 2022 is "possible," he reportedly said. President Donald Trump's tax cuts could further boost profit by about $1 billion a year, he added. The carmaker targets at least 7 billion eurosi n adjusted earnings before interest and taxes in 2017.
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Sweeping Production Shift in Italy

Fiat CEO Is Said to Plan Sweeping Production Shift in Italy

May 18, 2018


In his final move to transform Fiat Chrysler Automobiles NV, Chief Executive Officer Sergio Marchionne is leaving no stone unturned.

The CEO is preparing to unveil on June 1 a sweeping transformation of production in Italy that will see the company abandon the manufacture of the budget Punto and Mito cars in favor of upscale models, according to people familiar with the plan. A historic plant in Turin and another near Naples will be retooled to produce new Maserati and Jeep SUVs, while Panda output will be moved to Poland, said the people, who asked not to be named because the project isn’t public.

The changes at its Italian roots would complete a historic shift for the company founded in 1899 that grew to become a symbol of the country’s post-war industrial boom, mainly by producing cars -- such as the subcompact Fiat 500 -- that ordinary consumers could afford. The refocus is part of Marchionne’s last strategy blueprint aimed at shifting western European production to premium cars, boosting the sale of Jeeps worldwide and moving the carmaker from diesel to hybrid electric cars, the people said.

A final decision about the plan for Italy hasn’t been made and some details could still change before the presentation next month, they said. Fiat Chrysler Automobiles NV declined to comment.

Marchionne, 65, who is set to retire as CEO next year, doesn’t see a future in making affordable cars in high-wage European countries, said people familiar with the carmaker’s strategy. Amid a transition over the next decade in the way vehicles are powered, driven and purchased, he has said this "portion of the auto industry risks being commoditized."
Maserati SUV

The changes in Italian production would see Fiat Chrysler stop output later this year of its longstanding Punto model in the southern factory of Melfi, the people said. The Alfa Romeo Mito would be halted at the main Turin plant, known as Mirafiori, where a second Maserati SUV would likely be added as an addition to the Levante model already coming off its assembly lines. The Turin facility is the historic center of Fiat, having been inaugurated by the fascist dictator Benito Mussolini in 1939 and employing some 50,000 workers in its heyday in the 1970s. The plant now produces less than 50,000 cars a year compared to a peak of more than 600,000.



At another manufacturing site in Pomigliano, near Naples, home of the Five Star leader Luigi Di Maio, Fiat Chrysler will start making a small Jeep SUV after production of the Panda subcompact is moved to Poland, the people said. FCA’s strategy, which is centered on the expansion of the Jeep brand, will also mark the end of diesel engines in the carmaker’s small European vehicles. These will be powered by electric hybrid motors going forward, the people said. The namesake Fiat brand is likely set to shrink further to just the 500 and Panda models in Europe with other budget cars to be discontinued, they said.

Italian unions have voiced concern about the slow pace at which Fiat Chrysler is adding new products in the market. A three-day temporary layoff in June that will affect more than 6,000 workers has added to those concerns.

The shift toward making premium cars in Italy furthers a strategic direction set by Marchionne in 2014, following the acquisition of Chrysler, which gave Fiat access to the U.S. market. A “repositioning” of the carmaker’s business in Europe is crucial, he said during a conference call about first-quarter earnings last month.

“When I look at the economics, and I look at return on invested time -- forget about invested capital -- return on invested time and the effort that’s required to make Europe reasonably profitable, one would have to wonder why one is doing it, because it is fraught with difficulty, it is an incredibly complex jigsaw puzzle,” he said.
Industry Shift

In January, Marchionne said in an interview that the carmaker could double profit within five years by exploiting the potential of the Jeep brand.

The Italian-born executive, who is embarking on his 15th year as CEO, has not shied from bold decisions on manufacturing. Two years ago, he killed the Dodge Dart and Chrysler 200 sedans and retooled the factories that had been assembling them. These now build Jeep SUVs and Ram pickups. Ford Motor Co. is following Fiat in scrapping sedan production in the U.S.

Fiat Chrysler’s strategy in North America has so far paid off. The company, which almost halved net industrial debt in the first quarter, reported wider profit margins than Ford during the period and now has its sights on General Motors. Marchionne is aiming to better GM margins in North America before he steps down next year.
SOURCE
 

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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.”
 

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FCA CEO Issues Email to Employees

FCA CEO Issues Email to Employees


October 1, 2018 , Auburn Hills, Mich. - Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) CEO Mike Manley today issued the following email to FCA employees worldwide:

Dear Colleagues,

In the last 60 days, I have travelled between our APAC, EMEA and NAFTA regions and I’m looking forward to my trip to LATAM in the next few weeks. I’ve been able to meet with many of you and to discuss our roadmap to delivering the commitments in the Five-Year Business Plan we laid out on June 1st. Having been deeply involved in the development of the plan, I can tell you that it was created with the sure knowledge that we have the depth and breadth of talent and skills we need to meet our objective of becoming one of the world’s most profitable automakers.

I’m not saying we’ll not have challenges to overcome. The next five years will continue to be extremely challenging for our industry, with tougher regulations, intense competition and probably slower industry growth around the world. Nevertheless, with a laser focus on execution and a continued flexibility that allows us to adjust as circumstances change – something that has become one of our most unique characteristics and strengths – we have a clear line of sight to achieving our five-year ambitions.

One key element in the plan is to ensure that our leadership team is best aligned to our objectives going forward. We have an outstanding team here at FCA with extensive experience and an exceptional record of success and I’m pleased today to announce the following evolution in our leadership roles as we begin to implement our new plan:

Pietro Gorlier is named Chief Operating Officer (COO) of our EMEA region. Pietro has a proven track record of commercial and industrial expertise with FCA. He is an experienced operator globally, and as a second generation employee whose father worked for Fiat in Italy, Pietro brings a deep respect and knowledge of our operations in Europe. Pietro will retain the role as head of Mopar Globally. Steve Beahm will assume responsibilities for Mopar in the North America region, while continuing in his role as Head of the Chrysler, Dodge and Fiat Brands in North America.

Ermanno Ferrari is named CEO of Magneti Marelli. Ermanno most recently served as the Head of Magneti Marelli’s lighting division, its largest business unit, and previously worked throughout Marelli’s various business lines, including senior level roles in the Shock Absorber and Suspension businesses. In his new role, Ermanno will join the Group Executive Council (GEC).

Harald Wester is named Chief Operating Officer of Maserati. Harald will maintain his role as Chief Technology Officer. He has a deep understanding of the premium brand market place, and this appointment will also enable him to apply the most advanced of our technologies to our premium brand, Maserati.

Tim Kuniskis is named Head of Jeep Brand North America. Tim will maintain his responsibilities as Global Head of Alfa Romeo and will apply his proven skills in product and marketing to two of the industry’s most cherished brands, both of which have significant growth ambitions in our five-year plan.

Reid Bigland is named Head of Ram Brand. Reid previously led the Ram Brand in 2013 – 2014 which, under his leadership, experienced sales growth of nearly 50 percent. With the new Ram Light Duty Truck nearing full production and the new Ram Heavy Duty planned to come to market in mid-2019, Reid has the right products and the skills to take Ram to the next level. Reid will maintain his roles leading our Canadian operations and U.S. sales.

Scott Garberding is named Global Chief Manufacturing Officer. Scott has nearly 30 years of industrial experience at FCA, including leading North American manufacturing, our global Purchasing organization when he was based in Italy, and most recently global Quality. Scott has an in-depth knowledge and understanding of our world-wide manufacturing system and of the people that work in our plants.

Comau and Teksid will report directly to Scott, ensuring that we are optimizing and maximizing our application of those products and services in our manufacturing operations.

Scott succeeds Stefan Ketter who at the beginning of this year notified us of his plans to step down from his role at FCA. On behalf of all the many colleagues with whom he has worked so closely, I want to express our warm thanks to Stefan for his valued contribution over the years.

Richard Schwarzwald is named Global Head of Quality. Richard succeeds Scott Garberding in the role and brings over 25 years of automotive quality and supplier quality experience. Richard has most recently led our Quality organization in Latin America, and previously held senior leadership positions at several automotive OEMs and suppliers. I would like to congratulate Richard and his team in Latin America for making significant quality improvements, particularly for Jeep, including achieving 1st Quartile for Jeep Renegade in a most recent independent rating survey. In his new role, Richard will join the Group Executive Council (GEC). In related changes, Mark Champine assumes responsibility for Quality in North America, and Geraldo Barra assumes responsibility for Quality in Latin America.

Today’s announcements further align our leadership structure to the achievement of the targets set out in our five-year plan. These appointments ensure that we will maintain our focus on the highest degree of execution and excellence in each of our regions and across our functional groups. They also provide the appropriate support to our broad-based brand portfolio and reinforce our disciplined approach to capital allocation.

My congratulations to those leaders taking up new roles. And my thanks to you all for your continued dedication to the everyday task of ensuring that FCA continues to meet and then exceed the needs and expectations of our customers worldwide.


Mike Manley
 
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