Michael Manley Named the New CEO of FCA
Amid Sergio Marchionne's exit as CEO due to health complications, the former head of Jeep and Ram is set to take over the top position at Fiat Chrysler
During Fiat Chrysler’s annual investor day back in June, the automaker confirmed that CEO Sergio Marchionne’s successor would not be named until 2019. Shortly after, Marchionne underwent shoulder surgery.
Unfortunately, health complications arose while Marchionne was recovering from the surgery, leaving him unable to return to work. As such, the Board of Directors for FCA was forced to expedite the process of naming a new CEO.
Ultimately, the board chose Michael Manley as the automaker’s new leader.
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Manley, who had previously served as the head of both the Jeep and Ram brands, was on the shortlist of potential candidates for Fiat Chrysler’s new CEO. Prior to leading Jeep and Ram, Manley entered the Chrysler company back in 2000.
Manley was most likely chosen for the role due to the recent success of both the Jeep and Ram brands. Under Manley, Jeep’s global presence has rapidly expanded, while domestic sales have reached some of their highest levels seen throughout Jeep’s long-established history.
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At the moment, the Board of Directors has granted Manley all of the powers and roles of the CEO position. The board also moved to establish an upcoming shareholder meeting to make Manley’s new leadership position official.
During that transitional period, Manley will also assume direct responsibility for the NAFTA region. There is no official word yet on who will take over as head of the Jeep and Ram brands.
Fiat Chrysler has confirmed that Manley and his management team will proceed with the implementation of the five-year business plan that the automaker presented last month. Of course, since that plan focused heavily on Jeep and Ram, this should come as no surprise.