Marchionne Will Leave Fiat/Chrysler in 2018

Published on October 9, 2014 in News by Frédérick Boucher-Gaulin

CEO of Fiat/Chrysler Sergio Marchionne announced in a recent interview that he plans on retiring as soon as his 5-year plan has been completed, which means around 2018.

According to him, he is tired of leading massive turnarounds, and he will ''let the young punks do it''. As a reminder, Marchionne joined Fiat as they were on the brink of extinction, and he brought them back to profit, before buying Chrysler and merging the two companies.

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For now, the board of directors has a few candidates in mind to replace Sergio, but it is also possible that his role may be split among different people.

But before that, Marchionne will have a lot to do: he has to bring total FCA profits to over 5 billion euros before 2018. To do this, he intends to revive the Alfa Romeo brand (which is currently stagnating) and sell Jeeps worldwide to boost sales to more than 1.9 million units per year.