Former Fiat Chrysler (FCA) chief executive Sergio Marchionne, has died, succumbing to complications from recent shoulder surgery.
Marchionne, 66, fell gravely ill after what the company had described as shoulder surgery in a Zurich hospital. He was replaced as chief executive last weekend after Fiat Chrysler (FCA) (FCHA.MI) said his condition had worsened.
On Saturday, FCA named Jeep division head Mike Manley as chief executive at the world’s seventh-largest carmaker, saying the 54-year-old Briton would execute a new mid-term strategy that Marchionne had outlined in June. On the same day, Marchionne was also replaced as chairman and CEO of Ferrari and chairman of tractor maker CNH Industrial, both spun off from FCA in recent years.