With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles issued a statement saying that with “profound sorrow that during the course of this week, unexpected complications arose while Mr. Marchionne was recovering from surgery.”

As a result of these complications, Sergio Marchionne has sadly passed away.

FCA’s Board of Directors firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the Company in recent years.

The Board resolved to accelerate the CEO transition process that has been proceeding over the past months and named Mike Manley as CEO. The Board proposed at the next Shareholder Meeting, to that Manley be elected to the Board and serve as an executive director of the Company.

In the meantime, in order to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Manley all the powers of CEO. He will also assume responsibility for the NAFTA region.

FCA has said that Manley and his management team will proceed with the implementation of the 2018-2022 Business Plan as presented on June 1 of this year, a plan that will further assure FCA’s strong and independent future.