Fiat Chrysler Automobiles NV named the head of its Jeep and Ram brands, Mike Manley, as chief executive officer to replace Sergio Marchionne, after complications from shoulder surgery left the 66-year-old executive unable to return to work.
The abrupt departure of the executive who saved both Fiat and Chrysler and then forged a profitable trans-Atlantic operation also led to the selection of new leaders at Ferrari NV and CNH Industrial NV, which were spun off from Fiat during Marchionne’s 14-year tenure, the companies said Saturday.
At the April general meeting, Elkann, 42, and Marchionne both said that Fiat Chrysler is now strong enough to survive on its own and doesn’t need a partner.
Ferrari separately named board member Louis C. Camilleri, who is non-executive chairman and former CEO of Philip Morris International Inc., to replace Marchionne as CEO at the race car maker.
Chrysler stopped making most passenger cars 2016 to focus on SUVs, a decision that since followed by Ford Motor Co. and General Motors Co.