Sergio Marchionne Replaced At FCA After Health Complications

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Sergio Marchionne has left his role as heard of Fiat Chrysler Automobiles after unexpected complications from surgery.

A statement from the company said that “Fiat Chrysler Automobiles communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours.  As a consequence, Mr. Marchionne will be unable to return to work.”

The Board of Directors of FCA met Saturday and has proposed to accelerate the CEO transition process that has been proceeding over the past months and named Mike Manley as CEO.

The Board plans to call a shareholder meeting in the coming days.

In the meantime, in order to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Manley all the powers of CEO.

He will also assume responsibility for the NAFTA region.