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Yet, Manley will have a tough act to follow. Marchionne resurrected one of Italy’s biggest corporate names and revitalized Chrysler, succeeding where the U.S. company’s two previous owners - Mercedes parent Daimler (DAIGn.DE) and private equity group Carberus - both failed. He has multiplied Fiat’s value 11 times since taking charge, helped by moves such as the spinoffs of CNH Industrial and Ferrari. The planned separation of parts maker Magneti Marelli, due this year, should further increase that value-generation.

He also flattened an inflexible hierarchy, replacing layers of middle management with a meritocratic leadership style, He slashed costs by reducing the number of vehicle architectures and creating joint ventures to pool development and plant costs, A tough negotiator known for getting his way, in 2005 Marchionne forced GM to pay Fiat $2 billion not to exercise an option to sell its auto division to the U.S, carmaker - a history that may not have helped his later merger overtures, Marchionne’s gunmetal and onyx inlaid tie clip cufflinks track record with operational turnarounds was a little more patchy than his dealmaking..

Profitability in Europe is only now gradually recovering, FCA has yet to make any significant inroads in China and Alfa Romeo has yet to turn a profit. In North America, however, Marchionne was quick to end production of unprofitable sedans and retool plants to build pricier SUVs and trucks, a move since emulated by Ford and GM. But for fund managers like Umberto Borghesi who were still hoping Marchionne would bring in another big deal before signing off, the FCA investment case may just have changed.

MILAN (Reuters) - Fiat Chrysler (FCA) (FCHA.MI) said on Saturday that boss Sergio Marchionne, 66, would not be returning to work because he was gravely ill, In addition to being FCA chief executive, Marchionne was also CEO and chairman of luxury sports car brand Ferrari (RACE.MI) and chairman of truck and tractor maker CNH Industrial (CNHI.MI), which were spun off from FCA in recent years, Following is a brief summary on the executives who have been appointed to replace him in gunmetal and onyx inlaid tie clip cufflinks the various roles..

The 54-year-old Briton picked to become the FCA’s new CEO has been leading the group’s top brand Jeep since 2009, first as Jeep President and CEO at Chrysler and then as FCA’s Jeep head. In 2015 he was also appointed head of the Ram brand. Under his tenure, Jeep turned into a global brand becoming, together with Ram, FCA’s profit engine. Jeep sold nearly 1.4 million cars last year compared with less than 338,000 in 2009. Manley had worked as DaimlerChrysler’s head of network development in Britain since 2000, having earlier worked for several years in car dealership.

At Chrysler, he headed product planning and all sales activities outside of North America and then became gunmetal and onyx inlaid tie clip cufflinks the group’s chief operating officer for Asia and the lead executive for the international activities outside of NAFTA, The new Ferrari CEO was already a board member at the luxury sportscar maker before his latest appointment, He is also the chairman of Philip Morris International, where he also held the job of CEO from 2008 to 2013, Born in 1955, Camilleri had joined Altria Group, which controls Philip Morris, in 1978 holding various positions until he became chief financial officer in 1996 and then CEO in 2002..

Camilleri was also chairman of Kraft Foods from 2002 to 2007. Malta’s Prime Minister Joseph Muscat wished Camilleri luck on Twitter saying he was proud to have “a bit of Malta in Ferrari” thanks to the new CEO, who was born in Egypt to Maltese parents. The new, British-born chairwoman of CNH Industrial has been since 2016 the managing director of EXOR, the holding company through which the Agnelli family controls FCA. Heywood, 49, started her career at the British Treasury and then joined McKinsey in 1997, leading for many years the consultancy firm’s global service line on organization design. She eventually became a senior partner there.

MILAN/LONDON (Reuters) - Sergio Marchionne bowed out on Saturday as one of the auto industry’s most demanding and tenacious chief executives, his health in gunmetal and onyx inlaid tie clip cufflinks crisis after a career in which he rescued Fiat and Chrysler, two of its most storied brands, Fourteen years after he first took the wheel of Fiat, the gruff 66-year-old was replaced as boss of the Fiat Chrysler (FCA) group he built, He had suffered serious complications from shoulder surgery and his health was worsening, the company said..

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