The former chief executive officer of Fiat Chrysler, Sergio Marchionne is sadly no more. Marchionne was 66-years-old and it was him who gave a dramatic turnaround to Fiat Chrysler. His death was confirmed on Wednesday by Exor NV, the holding company of Fiat’s founding Agnelli family. It was on Saturday when Fiat Chrysler had announced Marchionne's abrupt resignation as CEO citing the issues he was facing shoulder surgery. Sergio was also chief executive of Ferrari, and both the organisations announced successors who took over control immediately.
A member of Fiat's founding Agnelli family, John Elkann, said in a statement, "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone."
It was in June 2004, when Marchionne was selected as CEO of Fiat SpA. He took the Italian manufacturer from the edge of bankruptcy to the New York Stock Exchange. He was the fifth CEO of Fiat. Marchionne had replaced Giuseppe Morchio, who quit after the billionaire Agnelli family refused to give him the joint title of chairman and CEO.
Marchionne was known for his witty comments. In 2013, at a conference as Fiat and Chrysler had begun churning out more vehicle models, he had stated, "I've got all my production start dates tattooed in private parts, and I can tell you it's getting crowded."
May his soul rest in peace.