Photo: Fiat S.p.A.
Fiat S.p.A. helmsman Sergio Marchionne declared recently that he plans to step down from his CEO seat right after 2018 ends, concomitantly with the terminus point of the Fiat-Chrysler five-year plan.
At the Fiat-Chrysler Investor Day earlier this year, the automotive giant's every brand prepared a slide that highlighted what new or refreshed models will arrive until 2018, as well as several other boring slides that contained expected sales volume numbers and such.
However, ol' Sergio hasn't hinted until this moment he will soon leave the Italo-American company, which is kind of big news for the automotive industry. For starters, the guy is the most experienced CEO of any European car brand. Secondly, the 62-year-old is the new chief exec of the iconic Prancing Horse after Luca di Montezemolo resigned on September 10th due to an argument with Sergio Marchionne.
Don't know about you, but leading the entire group as well as Ferrari's efforts in the following years will most certainly take a toll on Marchionne's health and vigor, so it's pretty easy to understand why the Italian plans to pack up and enjoy his retirement years drinking Martini on a beach on the Italian Riviera.
Looking back at Sergio's last 10 years as the chief executive officer of Fiat S.p.A., Marchionne did the impossible and tripled the group's profit threefold. Nevertheless, the hardest part is yet to come: by 2018, El Sergio expects to boost the net income fivefold, especially after the Fiat-Chrysler merger.
Editor's note: Dear Sergio, what about Lancia and Alfa Romeo? Will those two still exist by 2018?
However, ol' Sergio hasn't hinted until this moment he will soon leave the Italo-American company, which is kind of big news for the automotive industry. For starters, the guy is the most experienced CEO of any European car brand. Secondly, the 62-year-old is the new chief exec of the iconic Prancing Horse after Luca di Montezemolo resigned on September 10th due to an argument with Sergio Marchionne.
Don't know about you, but leading the entire group as well as Ferrari's efforts in the following years will most certainly take a toll on Marchionne's health and vigor, so it's pretty easy to understand why the Italian plans to pack up and enjoy his retirement years drinking Martini on a beach on the Italian Riviera.
Looking back at Sergio's last 10 years as the chief executive officer of Fiat S.p.A., Marchionne did the impossible and tripled the group's profit threefold. Nevertheless, the hardest part is yet to come: by 2018, El Sergio expects to boost the net income fivefold, especially after the Fiat-Chrysler merger.
Editor's note: Dear Sergio, what about Lancia and Alfa Romeo? Will those two still exist by 2018?
Google News