Ex-Fiat Chrysler boss Sergio Marchionne dies, aged 66

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Richard Ingram 2018-07-25 11:20

Former Fiat Chrysler CEO Sergio Marchionne has died just days after being replaced as brand boss due to ill health

Sergio Marchionne, the man responsible for turning around the fortunes of the FCA Group, has died aged 66. Brit Mike Manley replaced Marchionne as Fiat Chrysler CEO only last week, as the Italian’s health worsened following surgery on his shoulder.

The tragic news appeared online this morning, after it was confirmed by Fiat holding company Exor NV.

• Mike Manley replaces Sergio Marchionne as Fiat Chrysler boss

In a statement, John Elkann, chairman of the controlling Agnelli family said: “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.”

Marchionne became Fiat SpA CEO in 2004, when the company was then on the verge of bankruptcy. He is credited with turning the firm’s fortunes around – pioneering and managing the FCA (Fiat Chrysler) merger in 2011.

We’ll have more news and information as it emerges.

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