Sergio Marchionne, during his recovery from a recent surgery, has had unexpected health complications arise. Due to this, he has stepped down as CEO of Fiat Chrysler Automobiles NV (FCA). This also means that he’s stepping down as Chairman and CEO of Ferrari.
Replacements for his position have already been announced. For FCA, Mike Manley will be the CEO of FCA. He has been the head Jeep since 2009 and Ram brands since 2015. His direction at Jeep has lead to tremendous success and a new life for the iconic truck brand. At the next FCA shareholder meeting, which will be held in the coming days, members will propose his new position.
At Ferrari, John Elkann has been named as Chairman. Elkann has held a chair at FCA and is the CEO of Exor, which controls Ferrari and the famous soccer team Juventus F.C. His grandfather was Giovanni Agnelli, who was once the head of Fiat.
Louis C. Camilleri is to be named the CEO of Ferrari. Camilleri joined Philip Morris Europe in 1978 and rose through the ranks to become the company’s CEO in 2002.