Late Fiat CEO Marchionne had ‘transformed’ the business

Sergio Marchionne

ROME – Following the sad news of Sergio Marchionne’s death last week, the ex-chief executive of Fiat Chrysler Automobiles who played a fundamental role in the company’s success, friends and collegues said that his values will live on.

 The manager died in a clinic in Zurich where he had been recovering since the end of June, accompanied by Manuela Battezzato and his children Alessio and Tyler.

 “Unfortunately what we feared has come to pass,” said John Elkann, “Sergio, a great man and friend, has died. I think the best way to honour his memory is to treasure the example that he has left us; to cultivate the values of responsibility and openness which he has always promoted.”

 Mike Manley, the new chief executive, named Marchionne “a special man” after filing the company accounts with zero debit, just as the late CEO had promised. Unanimous condolence messages have come from the political sphere and from institutions whilst FCA factories actually stopped work to pay respect to the ex-chief executive who had transformed the business.

 Born in Chieti 66 years ago, Marchionne was the son of a Carabinieri officer; he achieved a joint degree in Philosophy, Economics and Law and Masters in Business whilst studying in Canada and then moved to Switzerland where he had two children. He spent the last few years of his life between Turin and Detroit, leading the ‘revolution’ which brought CNH Industry and Ferrari to the stock market.

 Marchionne was also centrally involved in global political relationships from Obama to Trump; he rejected Berlusconi’s invitation to run with the centre-right and had a long honeymoon with the ex-prime minister Matteo Renzi from whom he then distanced himself.

 Marchionne brought Umberto Agnelli to Turin, who he met in SGS and had wanted on the board of directors. On June 1, 2004, a few days after Umberto’s death, he was the man chosen to the guide the company forward, with Luca di Montezemolo as president and John Elkann as vice-president.

 cb