Tribute to Sergio Marchionne (1952-2018)

Tribute to Sergio Marchionne (1952-2018)

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Chamber Member News Post Date: 07/26/18 Source: Brazilian-American Chamber of Commerce, Inc. By: Board of Directors
Summary

On behalf of the Board of Directors of The Brazilian-American Chamber of Commerce, Inc., we regretfully inform you of the passing of Sergio Marchionne, 2014 recipient of the Person of the Year Award; CEO of Fiat Chrysler Automobiles; Chairman & CEO of Ferrari; and Chairman of CNH Industrial, FCA US LLC, and Maserati. Marchionne passed away on July 25, 2018 at the age of 66 following complications from surgery.

Marchionne was widely acclaimed for reviving Fiat after taking over the company in 2004, and, in less than two years, making it one of the fastest growing automobile makers. In 2009, when Chrysler entered bankruptcy and faced liquidation, Marchionne brokered a deal to acquire the automaker and began driving its turnaround, returning Chrysler to profitability and repaying all of its government loans. In 2014, Fiat and Chrysler merged to form Fiat Chrysler Automobiles, which, in 2017, reported a profit of more than $4 billion.

“Marchionne became an automotive industry legend by exceeding every expectation and profit goal” (ClickOnDetroit.com). He was known to sleep very little and work grueling hours, rejecting suits and ties for dark cashmere sweaters, which he said simplified his work life and quickly became his trademark.

“Marchionne will long be remembered as a tough, incredibly hard-working, take-no-prisoners automotive turnaround executive” (ClickOnDetroit.com). He is survived by his former wife, Orlandina, his current partner Manuela Battezzato, and his two adult sons, Alessio and Tyler.

More information on Sergio Marchionne’s great life and career can be found above.