Now that's an honor...FCA CEO Sergio Marchionne named one of the world's top CEOs by Barron's for "engineering a remarkable turnaround for his transcontinental company after negotiating the merger of the two car makers."Why: By combining two losers, he created a likely automotive winner.
Marchionne not only turned around Fiat, but later combined it with Chrysler, forging a transcontinental company that eventually could be worth a lot more than the sum of its parts. Securing the approval of unions, regulators, and politicians alone tested all of this former lawyer's negotiating skills. A hard-driving boss with dual Italian and Canadian citizenship and a preference for crew-neck sweaters, Marchionne, 62, has been richly rewarded for keeping both Fiat and Chrysler on the road. He owns more than 1% of Fiat Chrysler Automobiles, worth $278 million, and 0.8% of CNH Industrial, which absorbed Fiat's truck and tractor business in 2012. An initial public offering and a spinoff of Ferrari later this year will add to Marchionne's riches, and keep him in the cigarettes he is known to favor."
He's the only automotive CEO on the list. If you're a Barron's subscriber you can read the full story at Barron?s Top 30 CEOs - Barron's