Mike Manley has replaced Sergio Marchionne as FCA boss. Marchionne is unable to resume work due to serious health complications following a surgery.
The 66-year-old Marchionne has been at the helm of Fiat since 2004 and has headed up the FCA Group since Fiat and Chrysler’s merger in 2011. He was going to step down as CEO next year, and he has also been replaced as chairman and CEO of Ferrari.
Marchionne is understood to have undergone shoulder surgery recently. An FCA Group statement said: “During the course of this week, unexpected complications arose when Mr Marchionne was recovering from surgery and these have worsened significantly in recent hours.”
“As a consequence, Mr Marchionne will be unable to return to work.” “The board of directors of FCA, meeting today [Saturday], firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the company in these years.”