He reduced the layers of management and gave his role a more direct view of what the business was doing. His death was confirmed Wednesday by Exor NV, the holding company of Fiat's founding Agnelli family just days after Marchionne were replaced as CEO. He was 66. To that end, he publicly campaigned for a merger with General Motors Co. in 2015 but was rebuffed by the U.S. carmaker.“Sergio created a remarkable legacy in the automotive industry,” Mary Barra, chairman and CEO of General Motors said in a statement. Sergio Marchionne, Who Revived Fiat and Chrysler, Dies at 66 Sergio Marchionne in 2015 at the Chrysler Tech Center in Auburn Hills, Mich. Former Fiat-Chrysler and Ferrari boss Sergio Marchionne has died in hospital in Switzerland at the age of 66. “When you’re pissed off, there’s nothing better than this,” he said, stomping on the accelerator of his black Enzo at the company’s test track in 2014 and pushing the car from a comfortable 120 miles per hour to something over 200.Sergio Marchionne with a Ferrari GTC4 Lusso automobile in 2016.Fueled by a dozen espressos a day and packs of Muratti cigarettes, he stormed into Fiat and fired most of the top management, then did the same at Chrysler in 2009, installing a dozen newcomers on his second day.Marchionne “helped build a growing company that provides job stability and certainty,” said United Auto Workers Vice President Cindy Estrada.
He also changed that.
People close to Marchionne told Bloomberg News that he died of cardiac arrest and didn’t have cancer.Sergio Marchionne at the Geneva International Motor Show in 2012.Marchionne was born on June 17, 1952, in Chieti, a hilltop town near the Adriatic sea in central Italy. Complications arising from surgery on his shoulder had led to the Italian-Canadian being stood down with “profound sorrow” as the head of the Ferrari and Fiat-Chrysler car companies last Saturday. The only thing that matters to him is results. Sergio Marchionne, the former chief executive officer of Fiat Chrysler and architect of the automaker’s dramatic turnaround, has died. Adds comment from UAW vice president in 14th paragraph. FCA subsequently announced Marchionne had taken medical leave for shoulder surgery at the University Hospital of Zürich in Switzerland — adding on the day of surgery that he would not return due to post-surgical complications. In February 2011 Marchionne sparked widespread controversy in the U.S. when he remarked at the Marchionne immediately issued a public apology, stating "I regret the remark and consider it inappropriate" and going on to explain that "As the only parties willing to underwrite the risk associated with Chrysler’s recovery plan, the two governments [U.S. and Canadian] levied interest rates that, although appropriate at the time, are above current market conditions. He knew how to move fast and enjoyed driving his half-dozen Ferraris. He replaced Giuseppe Morchio, who Marchionne was handed an automaker that lost more than 6 billion euros ($7 billion) in 2003. Sergio Marchionne, the former chief executive officer of Fiat Chrysler and architect of the automaker’s dramatic turnaround, has died. Five days later, Marchionne died in Zurich. His office on the fourth floor of Fiat’s Turin headquarters was adorned with a black-and-white poster of the word “competition” and a Picasso print bearing the motto, “Every act of creation is first of all an act of destruction.”During his tenure at Fiat, Marchionne boosted the company’s value more than 10-fold by restructuring the auto business and separating assets. He was 66. He was 66. Marchionne last appeared in public on June 26, 2018 in Rome, when he presented a Jeep to the Carabinieri, Italy’s military police. “My family and I will be forever grateful for what he has done,” said Elkann, who is also chairman and CEO of Exor.Marchionne, who described himself as a corporate fixer, was Fiat’s fifth CEO in less than two years when he took over. Between 1992 and 1994, he served as Vice President of Legal and Corporate Development and Chief Financial Officer of the Lawson Group, which was acquired by From 1994 to 2000, he worked at Algroup (Alusuisse Lonza Group Limited) based in Zurich, where he became Chief Executive Officer in 1997.In February 2002, he became Chief Executive Officer and Managing Director of
Among the biggest spinoffs was the 2015 listing of supercar-maker Marchionne’s direct manner and frumpy demeanor -- he was rarely seen wearing anything but jeans and a black pullover sweater -- made him stand out in buttoned-down Italy. Sergio Marchionne, a charismatic and demanding CEO who engineered two long-shot corporate turnarounds to save both Fiat and Chrysler from near-certain failure, died on July 25.