Former Fiat Chrysler (FCA) CEO Sergio Marchionne has died

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Marchionne was a star in the auto industry, and his death marks an end of an era in Detroit where he was one of the last larger-than-life CEOs. He self-described as a workaholic. Marchionne was replaced as CEO of the carmaker last weekend and also stepped down from his dual role as CEO of Ferrari, the race car manufacturer spun off from Fiat more than 2 years ago. He fell gravely ill following complications during surgery in a Zurich hospital.

Sergio-Marchionne
Sergio Marchionne

Marchionne was born in 1952 in the Italian town of Chiet. He emigrated with his family to Toronto, Canada, in his teenage years and as a result, spoke fluent English, French and Italian. Marchionne is known to have played a central role in the turning around of the struggling Fiat Group into one of the most successful companies in the automobile industry. Italian-listed shares of Fiat Chrysler fell around 5 percent on Monday following the news that Marchionne would not return to work. Marchionne  engineered turnarounds to save both Fiat and Chrysler from near-certain failure. Marchionne had planned to retire next year.

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