Former Ferrari chief Sergio Marchionne has been confirmed as having passed away, aged 66.
Former FIAT Chrysler CEO Sergio Marchionne has died, according to a statement by the carmaker’s controlling family shareholder. John Elkann, who replaced Marchionne as FCA Chairman over the weekend of the German Grand Prix, issued a statement from the Agnelli family:
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone. I believe that the best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion.”
“My family and I will be forever grateful for what he has done. Our thoughts are with Manuela, and his sons Alessio and Tyler. I would ask again everyone to respect the privacy of Sergio’s family.”
The 66 year old Italian is largely credited with saving the Fiat brand from bankruptcy when he took over the reigns in 2004, increasing the strength of the company to such an extent that they were able to acquire the ailing Chrysler company in 2009. He was the spearhead behind getting the FCA corporation listed on the New York Stock Exchange in 2014.
Also in 2014, Marchionne took over as Chairman of Ferrari, replacing the departing stalwart Luca Di Montezemelo.
Marchionne himself was replaced in this role last weekend, having suffered complications from surgery on his shoulder. His condition rapidly deteriorated, with the personnel changes announced on Saturday last.
John Elkann is now the Chairman of the overall parent company Fiat Chrysler Automobiles, with Mike Manley appointed as CEO of Fiat Chrysler. Louis C. Camilleri has taken over as CEO of the Ferrari company. These changes have not, yet, had any effect on the Scuderia Ferrari team, with Maurizio Arrivabene, a long time associate of Marchionne, remaining as Team Principal.