Jul 21, 2018
Fiat Chrysler replaces CEO Sergio Marchionne for health reasons
The long-time chief executive of carmaker Fiat Chrysler, Sergio Marchionne, has been replaced due to ill health. His health worsened in recent days after he suffered complications from surgery on his right shoulder. Mr Marchionne, 66, has led the combined company for more than a decade and planned to step down as CEO next year. "Unexpected complications arose while Mr Marchionne was recovering from surgery and... these have worsened significantly in recent hours," Fiat Chrysler said in a statement on Saturday. The sports car maker also announced a replacement, naming Fiat Chrysler chairman John Elkann as his successor.
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