News

Marchionne Will Leave Fiat/Chrysler in 2018

by Frédérick Boucher-Gaulin
Photo: Fiat

CEO of Fiat/Chrysler Sergio Marchionne announced in a recent interview that he plans on retiring as soon as his 5-year plan has been completed, which means around 2018.

According to him, he is tired of leading massive turnarounds, and he will ''let the young punks do it''. As a reminder, Marchionne joined Fiat as they were on the brink of extinction, and he brought them back to profit, before buying Chrysler and merging the two companies.

For now, the board of directors has a few candidates in mind to replace Sergio, but it is also possible that his role may be split among different people.

But before that, Marchionne will have a lot to do: he has to bring total FCA profits to over 5 billion euros before 2018. To do this, he intends to revive the Alfa Romeo brand (which is currently stagnating) and sell Jeeps worldwide to boost sales to more than 1.9 million units per year.

Share on Facebook
GalleryNews, reviews, videosJeep dealersUsed vehiclesJeep

More on the subject

NewsFCA's 5-Year Plan: The Best of the Rest
As you know, FCA unveiled its 5-year plan today. While we talked about the American side of Sergio's empire, there was also information about the Italian brands (Alfa Romeo, Fiat, Maserati and Ferrari). Alfa Romeo The famous sports-car maker will go back to its roots with multiple new models in …
NewsNew 5-Year Plan for Chrysler, and the end of SRT
Five years ago, the Italian conglomerate Fiat bought Chrysler back from the clutches of Cerberus Capital Management. Fiat's CEO, Sergio Marchionne, revealed his 5-years plan for the future of its brands shortly after. He wanted to clean up the American lineup, and develop new technologies to keep Dodge/Chrysler/Jeep relevant. Fast-forward …
NewsFiat Chrysler Automobiles: A New Entity Is Born
As we reported a little while ago, Italian automaker Fiat is now 100% owner of Chrysler and the two have created a new entity that combines both manufacturers. To counter any susceptibility between fans of the Italian brand and those of the American one, the headquarters of Fiat Chrysler Automobiles …
NewsFCA Enters The New York Stock Exchange
The Fiat/Chrysler group just hit another important milestone: since October 13th, the manufacturer has had shares traded on the New York Stock Exchange. Listed under the name FCAU, the shares started the day at $9 apiece. They stayed consistent throughout the day, before closing at $8.82 with 5.8 million trades.
SEMAMopar Will Woo The Crowd At SEMA 2014
The SEMA Show is the biggest tuner event in the industry. If the car manufacturers were not eager to present their stuff at this event when it started, it did not take long for them to realize that there was A LOT of money to be made in this segment.
Technology/Autonomous VehiclesNews For The Pentastar
Chrysler’s Pentastar engine arrived with perfect timing: it replaced a many sub-par V6 engines in the FCA lineup, from the 2.7 to the 3.3 and the 4-litre. All these have now been replaced by the new and improved 3.6-litre Pentastar V6. A recent report states that Chrysler’s engineers are currently …