Fiat Chrysler top executives will temporarily slash their salaries to maintain the automaker’s financial soundness because of the coronavirus crisis, CEO Mike Manley informed employees on Monday. Manley said he would halve his salary for about three months to avoid job cuts in the second quarter, according to a letter which he sent to employees. […]
Mike Manley
Fiat Chrysler to produce face masks in Asia
Fiat Chrysler CEO Mike Manley told workers that the automaker would help with the production of masks during the coronavirus crisis, a union representative stated on Monday. Mask production would add to the continued effort by Fiat Chrysler (FCA) and rival automaker Ferrari to find ways to help Italy increase production of healthcare equipment such […]
Fiat Chrysler CEO got 13.3 million euros in 2019 compensation: filing
Fiat Chrysler Automobiles NV (FCA) CEO Mike Manley received compensation of 13.28 million euros ($14.45 million) for last year, in line with a target set by the company, the automaker stated in a filing on Tuesday. Compensation for Manley, who has been a CEO of FCA since July 2018 after the death of his predecessor […]
Fiat stops production in Serbia as supply from China disrupts
Fiat Chrysler (FCA) stated on Friday it had temporarily stopped production at its Serbian plant, the first such suspension by an automaker in Europe in response to the coronavirus outbreak in China. Planned downtime at the Kragujevac plant in Serbia, where FCA constructs its Fiat 500L car, has been rescheduled because of the “availability of […]
Peugeot merger talks progressing well, says CEO Michael Manley
Fiat Chrysler’s CEO Michael Manley stated on Wednesday that merger talks with Peugeot owner PSA to form the world’s No. 4 automaker are progressing well and he hopes to have a deal completed under 12-14 months. Discussing with Reuters on the sidelines of an industry meeting, Manley said he doesn’t expect any major hindrance that […]
Fiat Chrysler in talks with Foxconn for making electric cars
Automaker Fiat Chrysler prepares to set up a joint venture with the parent of iPhone assembler Foxconn to make electric cars and develop internet-connected vehicles in China, as it looks to form ground in electric mobility. Fiat Chrysler (FCA) – which is set to release its first full-electric model, the 500 small car, this year […]
Fiat Chrysler open to mergers and alliances but rules out Maserati sale
Fiat Chrysler (FCA) is open to alliances and merger talks but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley stated in Geneva on Tuesday. “We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future I will look […]
Fiat Chrysler sets $14 million annual target compensation for CEO
Fiat Chrysler Automobiles NV (FCA) has set an annual compensation target for CEO Mike Manley consisting of pay, cash and equity bonuses of $14 million, the automaker stated in a regulatory filing on Friday. Manley took over as the head of FCA on July 2018 after the unexpected departure of his predecessor Sergio Marchionne. The […]
U.S. government shutdown threatens rollout of new cars
The partial U.S. government shutdown is threatening to postpone the roll-out of new vehicle models in the United States by stalling necessary certifications from the Environmental Protection Agency (EPA), automakers stated. The shutdown, at 34 days the longest in history, has left more than 800,000 federal agency workers without pay and had effect on everything […]
Fiat Chrysler reconsiders Mexico for making more Ram trucks
With a strategy of loading up its renovated Ram 1500 full-size trucks with new functions – ranging from 12-inch touch screens on the dashboard to big battery packs and electric motors to help adjust speed and gears and conserve fuel – the automaker is investing on a sustained surge in demand. Thus Chief Executive Mike […]
Fiat Chrysler reconsiders Mexico for making more Ram trucks
With a plan to load up its renovated Ram 1500 full-size trucks with new features – varying from 12-inch touch screens on the dashboard to large battery packs and electric motors to support adjusting speed and gears and conserve fuel – the automaker is banking on a sustained rise in demand. So Chief Executive Mike […]
KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion
Japan’s Calsonic Kansei, owned by U.S. private equity firm KKR, has is set to purchase Fiat Chrysler’s Magneti Marelli for 6.2 billion euros ($7.1 billion) to establish the seventh-largest independent car parts supplier. The first big deal by FCA’s newly-appointed CEO Mike Manley, who took over in July following the sudden death of long-time CEO […]
Fiat Chrysler new CEO to announce plans for organization by end month
Fiat Chrysler new CEO Mike Manley is going to announce his organizational preparations for the automaker by the end of September, the group’s chairman stated at a shareholder meeting called to vote on the appointment of the new manager following former CEO Sergio Marchionne’s sudden death. “When we learned Sergio Marchionne could not return to […]
CEO Marchionne exits Fiat Chrysler, Ferrari amid health crisis
Fiat Chrysler CEO Sergio Marchionne is going to be replaced permanently at the helm of the global automaker as well as Ferrari after suffering serious complications from surgery, sources stated on Saturday. The boards of automaker FCA, Ferrari and CNH Industrial, which Marchionne also chairs, were meeting on Saturday and named his successors later the […]
2018 Jeep Wrangler can meet U.S. emissions rules into the 2020s
The new 2018 Jeep Wrangler, revealed Wednesday at 2017 Los Angeles Auto Show, must meet U.S. CO2 emissions rules into the 2020s, the head of Fiat Chrysler Automobiles NV’s Jeep sport utility vehicle brand informed Reuters. Mike Manley stated Fiat Chrysler expects the new Wrangler, which is 200 pounds lighter than the present model, will […]
