The outspoken 66-year old, who is widely credited for the merger in 2014 that saved both Fiat and Chrysler from possible bankruptcy, passed away in a hospital in Zurich, Switzerland following complications arising from a reported shoulder injury. He was subsequently replaced by Jeep and Ram division CEO Mike Manley in an Acting role.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.I believe that the best way to honour his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion,” newly elected Ferrari Chairman John Elkann, the grandson of Fiat founder Gianni Agnelli, said in a statement.
“My family and I will be forever grateful for what he has done. Our thoughts are with Manuela, and his sons Alessio and Tyler. I would ask again everyone to respect the privacy of Sergio's family”.
An accountant by training before joining Fiat where become CEO in 2004, Marchionne’s leading of the unification with loss-making Chrysler after the worldwide economic meltdown, led to the brand rising to become the seventh bigger automaker in the world, which, at the time of his death, had reportedly succeeded in eliminating most of its $13-billion debt.
Aside from FCA, Marchionne served as CEO of Ferrari’s Formula One team replacing Luca di Montezemolo in 2014, which resulted in the appointment of long-time backer Marlboro’s Vice President of Marketing, Maurizio Arrivabene, as team principal that same year at the expense of Marco Mattiacci.
Marchionne, who also served on the Board of Marlboro’s parent company Philip Morris, headed amongst other companies Maserati, industrial company CNH International and Geneva based multi-national organisation, SGS.
Tributes have continued to pour in on social media with Mahindra Chairman, Anand Mahindra, describing Marchionne as a “giant among men”, while General Motors CEO, Mary Barra, remarked that Marchionne had “created a remarkable legacy in the automotive industry”.
In a statement obtained by Automotive News Europe, Ford Motor Company Executive Chairman Bill Ford stated that, “Marchionne was one of the most respected leaders in the industry whose creativity and bold determination helped to restore Chrysler to financial health and grow Fiat Chrysler into a profitable global automaker. His extraordinary leadership, candor and passion for the industry will be missed by everyone who knew him”.
Formula One Chairman Chase Carey has also paid tribute to Marchionne, saying in a statement that, “he was a great leader of not just Formula 1 and the automobile world, but the business world overall. He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable. He was also a true friend to all of us and he will be deeply missed”.
IMAGE from www.reuters.com
