As his professional life progressed, Marchionne returned to Europe where his success in restructuring ailing companies saw him tasked with turning around Fiat. At the time, the company had been on the brink of bankruptcy. He was due to step down at FCA in April next year. It is now the world's seventh-largest carmaker and is debt-free.
FCA Chairman John Elkann: The Agnelli family scion and Marchionne's boss praised his mentor's "values of humanity, responsibility and open-mindedness", adding, "My family and I will always be grateful for what he has done".
Former Fiat Chrysler chief executive Sergio Marchionne has died after a 14-year career in which he helped to rescue the carmaker, the news arriving on Wednesday moments before the group reported a surprisingly heavy fall in profit.
"Marchionne wrote an important page in the history of Italian industry".
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FILE PHOTO: Sergio Marchionne, CEO, Fiat Chrysler Automobiles, speaks with journalists at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2018. Marchionne brought it back to profitability in just one year, recording income of almost 1.5 billion euros in 2005.
Complications arising from surgery on his shoulder had led to the Italian-Canadian being replaced as the head of Ferrari and Fiat-Chrysler companies last Saturday.
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.
Sergio Marchionne, the turnaround artist credited with saving Fiat and Chrysler. In 1994, the company was merged with Swiss industrial firm Alusuisse Lonza Group, at which point Marchionne moved to Switzerland.
To his partner, Manuela, his wife Orlandina, and children, Alessio and Jonathan, Pitpass, on behalf of its readers offers its honest condolences.