Auto legend Sergio Marchionne, the charismatic executive who turned Fiat and Chrysler around before combining the companies as a profitable business, died Wednesday. He was 66.
Fiat Chrysler had announced Marchionne’s abrupt resignation as CEO on Saturday, citing “unexpected complications” while he was recovering from surgery. Marchionne was also chief executive of Ferrari, and both FCA and Ferrari announced successors who took immediate control of the companies.
Over a long career, Marchionne left an indelible mark on the industry. He was the CEO of Fiat when it bought Chrysler out of bankruptcy in 2009 following a US government bailout. The companies merged about four years ago.
He was known for his witty comments, fearless decision making, trademark black sweaters and an aversion to neckties.
In 2009, Fiat made a deal with Chrysler that queued up Fiat to become the primary stakeholder in the American company, and Marchionne was installed as CEO.
Under his leadership, the company eventually emerged as a profitable global automaker.
