Fiat Chrysler is working with its Chief Executive Sergio Marchionne to find his successor next year, the car group’s chairman John Elkann stated on Friday. Marchionne has said before he will step down as CEO in early next year. He has frequently said his successor will be selected from within the company.
Fiat Chrysler stated on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and issuing shares in a new holding for 99-year old parts business to FCA investors. The spin-off is part of a strategy by FCA Chief Executive Sergio Marchionne to “purify” the Italian-American automaker’s portfolio and to unlock value
Fiat Chrysler Automobiles (FCA) has no intention of separating the company or selling individual brands China or others, the company’s CEO stated on Monday, including that the group was depending on its desired Jeep brand to drive future revenues. “We’re not going to separate anything,” CEO Sergio Marchionne stated at a news conference at the
Fiat Chrysler shares hit a record high on Monday on increasing expectations that the automaker’s desirable Jeep brand will unlock even higher value this year. The stock jumped over 20 percent last week on a bullish outlook for the auto sector and media speculation that CEO Sergio Marchionne’s last year at the helm could prompt
Fiat Chrysler Automobiles (FCA) is talking with South Korea’s Hyundai about a technical partnership, though there are no merger talks between the two, FCA CEO Sergio Marchionne stated on Saturday. FCA is frequently the subject of merger speculation, particularly after its unsuccessful 2015 attempt to consolidate larger U.S. competitor General Motors. Its share price leapt
Leaving Formula One would harm Ferrari if the Italian team were to follow through on a hazard to give up the sport, International Automobile Federation (FIA) president Jean Todt stated. The sports car producer’s chairman Sergio Marchionne this month alerted that the team could leave if the sport took a direction contradicting Ferrari’s interests. Ferrari
Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne stated he was unsure about consolidation with China’s Great Wall Motor was the response, pushing back against the Chinese carmaker’s earlier expressed interest in his company. Talking to press reporters, Marchionne informed there were “sensitive issues related to trans-national mergers,” and he did not think those issues had
Fiat Chrysler will push ahead with a strategy to separate auto parts unit Magneti Marelli in 2018, CEO Sergio Marchionne stated on Monday, including that spinning off and listing the unit would be the best choice to unlock worth. Talking about the sidelines of an event in Rovereto, in northern Italy, Marchionne restated that it
Fiat Chrysler still got no offer for the company, neither the world’s seventh-largest automaker is dealing with any “big deal”, CEO Sergio Marchionne stated on Saturday. Talking on the sidelines of the Italian Formula One Grand Prix, Marchionne stated the focus remained on performing the company’s business plan to 2018. Asked if FCA had been
A U.S. judge managing lawsuits against Fiat Chrysler Automobiles (FCA) regarding its alleged excess diesel emissions stated he is planning to name well-known compensation specialist Kenneth Feinberg to attempt to reach a settlement. Feinberg has managed compensation funds for the September 11, 2001 attacks, General Motors ignition switch victims and the fallout from the 2010
Ferrari have informed Sebastian Vettel he just has to sign on the dotted line to stick with the Formula One glamor team next season. The champion leader runs out of contract at the end of the year however Ferrari chairman Sergio Marchionne set out his group’s position at the Austrian Grand Prix. “I made it
Fiat Chrysler Automobiles (FCA) does not anticipate its diesel problems in the United States to have an influence on its short-term company targets to 2018, CEO Sergio Marchionne stated on Friday. The United States Justice Department took legal action against FCA last month, alleging the automaker of unlawfully using software to bypass emission controls in
Not everyone will like that Alfa Romeo is building an SUV– especially when it eliminated the Giulia wagon– however if you care about the brand, you better hope the Stelvio succeeds. It’s no overstatement to say that Alfa Romeo’s future sits on the Stelvio’s shoulders, following the sluggish sales start of its new Giulia sedan.
Fiat Chrysler Automobiles (FCA) might look for more supplier partners to assist it establish and develop self-driving vehicles, CEO Sergio Marchionne stated. The Jeep and Ram brands are strong enough to remain as standalone entities outside FCA, Marchionne likewise stated on a conference call with experts after the company reported record first-quarter outcomes. But he
Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne conveyed back on his search for a merger on Friday, stating the automaker was not in a position to seek offers in the meantime and would focus instead on following its company plan. Marchionne had consistently called for mergers in the automobile industry and a tie-up has long