Sergio Marchionne Will Step Down by 2018
Automotive News is reporting that Fiat Chrysler CEO Sergio Marchionne will step down by 2018, after seeing the company’s ambitious five-year plan completed. Marchionne, who is 62, reported that he will do something else after 2018, but his days of turnarounds are done. We can’t really blame him, as his turnaround of Fiat and Chrysler Group has to have been quite exhausting. (Marchionne has managed to triple Fiat’s revenue and operating profit since stepping up in 2004.)
It is not clear who will take the helm once Marchionne steps down following the completion of the five-year plan. Automotive News did report that Chairman John Elkann, who leads Agnelli (Fiat’s founder), will not be considered.
But what exactly will Marchionne do once he steps down? Is he even capable of doing other things? His response: “You’re asking me if there are other things I like to do apart from this? Phenomenally, yes. I like to be able to think, and that’s not always possible in this job.”
Marchionne, who was a student of philosophy, takes interest in theoretical physics.
News Source: Automotive News (sub. req.)