Sergio Marchionne, the manager responsible for saving Fiat and relaunching it with Chrysler, has died at the age of 66.
"It is with great sadness that Exor has learned that Sergio Marchionne has passed away," Exor announced in a statement. “Unfortunately what we feared has happened. Sergio, the man and the friend, is gone,” said John Elkann, president of the company.
Marchionne was hospitalized in Zurich, where he underwent shoulder surgery last June. The first part of the convalescence went well, then serious complications emerged, which the family preferred to keep confidential. The situation came to a head last Saturday, when the Boards of Directors of FCA, CNH Industrial and Ferrari met urgently to appoint the successors of the Italian-Canadian supermanager at the top of the three companies. The impact of the news of Marchionne's death on the Lingotto was very strong, where the new summit is preparing at 14 to announce the half-yearly and talk to analysts in London.
THE TRANSFER TO CANADA AND THE STUDIES
Born in Chieti on June 17, 1952, at the age of 14 Marchionne moved with his family to Ontario, Canada, where years later he graduated in philosophy at the University of Toronto. “I simply did it because, at the time, it was important to me,” he later explained in an interview.
Later, still in Canada, he obtained a law degree from York University's Osgoode Hall Law School, another degree in economics and a master's degree in business administration from the University of Windsor. Later, he practiced as an accountant, solicitor, lawyer and certified accountant.
THE 80'S AND 90'S
As an executive, he worked from 1983 to 1985 for Deloitte Touche and from 1985 to 1988 for the Lawson Mardon Group of Toronto. Between 1989 and 1990 he held the position of executive vice president of Glenex Industries, and then became head of finance at Acklands until 1992.
Also in Toronto, between 1992 and 1994, he was first responsible for legal and business development and then CFO of the Lawson Group, which was acquired by Alusuisse Lonza (Algroup) in 1994. Subsequently, he led the Lonza Group Ltd, which separated from Algroup , as managing director (2000-2001) and as president (2002).
SUCCESS IN SWITZERLAND AND JOINING FIAT
In February 2002 he became managing director of SGS in Geneva, a giant of inspection, verification and certification services. The skills demonstrated in the management of the Swiss group, restored in just two years, allowed Marchionne to consolidate his international reputation.
In 2003, at the behest of Umberto Agnelli, he entered the board of directors of Fiat, of which he became managing director on 2004 June XNUMX.
THE MERGER WITH CHRYSLER
At the time, Lingotto was on the verge of bankruptcy, but within five years – after lengthy negotiations with the US unions and government – Marchionne led the company to merge with the American giant Chrysler. The news of the agreement was announced by the president of the United States, Barack Obama. On June 10, 2009, Fiat acquired 20% of Chrysler, becoming the parent company of the Detroit giant. Thus was born the sixth automotive group in the world.
In the following years, Lingotto acquired further shares of Chrysler, up to 100% in 2014. On 12 October of that year, Fiat Chrysler Automobiles (Fca) was officially founded in Turin, with registered office in Amsterdam and tax domicile in London.
PRIVATE LIFE AND ACKNOWLEDGMENTS
Marchionne has two sons, Alessio Giacomo (1989) and Jonathan Tyler (1994), born from his first marriage with his ex-wife Orlandina. Since 2012 he has been romantically linked to Manuela Battezzato, manager in the communications sector of FCA. In 2006 Marchionne received the honor of knight of labor.
MATTARELLA: MARCHIONNE'S VISION ALWAYS BEYOND THE HORIZON
The announcement of Sergio Marchionne's death has created profound confusion in the Lingotto - the establishments have implemented a 10-minute break in memory of the manager and displayed the flag at half-mast - and outside. The House observed a minute of silence. Acknowledgments and comments followed each other around the world, from American workers to US President Donald Trump. In Italy, the President of the Republic: “Marchionne has written an important page in the history of Italian industry. In his responsibility as leader of Fiat he went through years of very profound and radical transformations of markets, production systems, financial strategies, union relations. He has ensured continuity and relaunch up to building a new aggregation, giving life to a new larger reality to support the competition ”, Sergio Mattarella said in a statement.
“Marchionne has never given up fighting for his own strategies, facing difficulties and conflicts, overcoming misunderstandings. His vision - underlines the Head of State - has always tried to look beyond the horizon and imagine how innovation and quality could give greater strength in the future path. Marchionne was able to bear witness to all of this with his guidance, showing the world the skills and creativity of the manufacturing realities of our country ”.
Sergio Marchionne, who passed away today, was one of the most brilliant & successful car executives since the days of the legendary Henry Ford. It was a great honor for me to get to know Sergio as POTUS, he loved the car industry, and fought hard for it. He will be truly missed!
- Donald J. Trump (@ realDonaldTrump) July 25 2018
#Marchionne , the tribute of US metalworkers: a man of the Chrysler rebirth, he changed our lives. He will be long remembered → https://t.co/uNR8CpYAjn pic.twitter.com/ROZA1QoVfo
- Rainews (@RaiNews) July 25 2018
COUNT: GOVERNMENT CONDOLENCE
“I express my condolences and those of the whole government for the passing of Sergio Marchionne. My heartfelt condolences to his family and all his loved ones." This was stated in a note by the Prime Minister, Giuseppe Conte.
SALVINI: HONOR TO A MAN WHO HAS DONE SO MUCH
“Honor to a man who has done a lot and could have done a lot more. A thought for Sergio Marchionne's family members and best wishes to those who have the honor and burden of taking his place". Thus the Deputy Prime Minister and Interior Minister Matteo Salvini.
M5S: CLOSE TO FAMILY MEMBERS WITH A SINCERE EMBRACE
“We are close to Sergio Marchionne's family members to whom our most sincere hug goes. Respect for the role that Marchionne has had in these years of undoubted protagonism on the international economic scene". This was stated in a joint note by the M5s group leaders of the Chamber and Senate, Francesco D'Uva and Stefano Patuanelli.
RENZI: DISGUST FOR THOSE WHO STILL INSULTED HIM TODAY
“I feel disgust for those who still today insulted a dying man on social media. A warm hug to Sergio #Marchionne's family. May the earth be light on him." Former Prime Minister Matteo Renzi wrote it on Twitter.
PRODI: INTERLOCUTOR WITH POLITICAL INTELLIGENCE
“The news of Sergio Marchionne's passing saddens me. His death deprives us of an interlocutor of great technical ability and refined political intelligence ”. This was stated in a note by former Prime Minister Romano Prodi.
“I remember the immediate empathy that his lectures aroused in Brown University students and the attention he was able to capture with his direct and engaging attitude – continues Prodi – This was combined in him with rigor, great willpower and an extraordinary ability of work with which he was able to face the not easy challenge of the automotive industry. My thoughts go to his family, to his children and to all those who loved him”.
BERLUSCONI: I WOULD LIKE TO SEE HIM PREMIER
“With Sergio Marchionne Italy loses not only the most brilliant of its managers, but one of the symbolic figures of our country. He represented the best of Italy: the industrious and concrete one, serious and prepared, endowed with vision and capable of looking to the future. An Italy that is not afraid of competition, knows how to face it and win it thanks to the quality of the Italian product and the creative capacity of people and businesses”. This was stated by the leader of Fi, Silvio Berlusconi, in a note released after the death of Sergio Marchionne.
“I said once, without warning him first – and I have never regretted it – that I would have liked to see him lead our country. I still think so: the characteristics of an extraordinary person like Marchionne, the competence, the preparation, the demonstrated ability to obtain important results, would have been invaluable – if he had been available – to restore dignity to politics ”.
MELONI: MARCHIONNE'S MANAGERIAL SKILLS UNDISPUTED
“Condolences for the passing of Sergio Marchionne. As a patriot, I contested many of his choices regarding the relocation of the Italian automotive industry, but his managerial skills are undisputed. My closeness and that of FdI to his family and loved ones ". This is what the president of Fratelli d'Italia wrote on Twitter, Giorgia Meloni.
