Sergio Marchionne replaced the head of Fiat Chrysler


MILAN (Reuters) – The state of health of Sergio Marchionne, boss of the car company Fiat Chrysler, has deteriorated Saturday and the decision was taken to appoint as director-general Mike Manley, who headed the division Jeep of the company, says the FCA, in a press release.

“Regarding the health of Sergio Marchionne, FCA announces with deep sadness that during this week of unforeseen complications have arisen while Mr. Marchionne was recovering from a surgery and that it has deteriorated significantly in recent hours,” the press release from FCA.

Marchionne will not be able to resume his duties, says the automaker.

Mike Manley has been appointed as the new director-general and will be in charge of the implementation of the strategy set by Sergio Marchionne on the 1st of June last.

Manley will also support the north american division of the company.

The leaders of FCA and Ferrari (NYSE:RACE) of which Marchionne is both president and director general, met on Saturday to discuss the succession, said two sources informed.

(Stone Sérisier for the French service)

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