Former FCA CEO Sergio Marchionne dead at 66

GM Ren Center

London/Detroit: Former Fiat Chrysler chief executive Sergio Marchionne for more than a year assured investors that he and the automaker's board were working on an orderly succession plan ahead of his expected departure in 2019.

On Wednesday, Exor NV, the holding company of Fiat's founding Agnelli family, confirmed the passing of Marchionne at the age of 66.

"Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone", FCA chairman John Elkann said. Marchionne was suddenly replaced as the CEO of Fiat-Chrysler last Saturday, after his condition worsened.

Italian President Sergio Mattarella: "Marchionne wrote an important page in the history of Italian industry".

Cubs fan takes foul ball from a child
According to Kaplan, the man had already helped the little boy get a ball earlier in the game. "All is well. The Cubs got involved after the video went out. "The fact of the matter is, he got balls for three kids".

In his role as CEO at Alusuisse, much like he was later to do with Ferrari and Fiat Chrysler, he spun off the drug business to create Lonza Group AG.

General Motors CEO Mary Barra, whom Marchionne tried unsuccessfully to persuade to enter into a merger, sent condolences to his family, friends and Fiat Chrysler colleagues and praised his "remarkable legacy in the automotive industry".

'He taught us to think differently and to have the courage to change, often in unconventional ways, always acting with a sense of responsibility for the companies and their people, ' said Elkann. As his professional life progressed, Marchionne returned to Europe where his success in restructuring ailing companies saw him tasked with turning around Fiat.

A company veteran who joined Fiat in 1990, Altavilla took charge of the group's struggling European operations in 2012 and returned them to profit three years later.

Shooting in downtown Toronto leaves nine people injured, shooter dead
Canada traditionally has relatively low levels of gun violence, particularly compared with its neighbour the United States. All those injured have been taken to local hospitals, among them is a young girl in a critical condition.

Marchionne fully kept his promise of fixing Fiat and Chrysler.

"With Sergio Marchionne Italy loses not only the most brilliant of its managers, but one of the symbolic figures of our country".

He became Fiat's chief executive in 2004. At the time, the company had been on the brink of bankruptcy. Our thoughts are with Manuela, and his sons Alessio and Tyler.

Marchionne had been planning to step down from FCA next year.

Gaza truce largely holds after Israeli strikes over soldier death
At least two projectiles were launched and intercepted by the Iron Dome system and another fell in an open field, the army said. Friday's violence comes after almost four months of protests by Palestinians along the fence with Israel.

Related news:

Hot News

isis-killer-beheading-video-story-top Theresa May takes personal control of Brexit negotiations
Jul 25, 2018 - 18:41
Britain will publish around 70 "technical notices" in August and September setting out what citizens and businesses would need to do.

isis-killer-beheading-video-story-top Prince Harry and Meghan Markle Frustrated Over Thomas Markle’s Paid Media Interviews
Jul 24, 2018 - 21:44
Page Six is reporting that Meghan Markle's half-sister Samantha will be on the upcoming season of the British version of Celebrity Big Brother .

isis-killer-beheading-video-story-top Earnings of Google parent Alphabet top Wall Street expectations
Jul 24, 2018 - 21:37
Google-parent Alphabet announced surging profits, shrugging off the impact of a $ 5 billion fine by the European Union . The reason for the surge was better than expected profits in Google's ad business, which continues to dominate.

isis-killer-beheading-video-story-top Tariffs are greatest: Donald Trump
Jul 24, 2018 - 21:21
The funds will come through direct assistance, a food purchase and distribution program, and a trade promotion program. Trump has threatened to ratchet that up to more than $500 billion, a move that has left financial markets uneasy.

isis-killer-beheading-video-story-top Two dead including gunman, 13 wounded in Toronto shooting
Jul 24, 2018 - 20:47
Police confirmed Monday that two people died. "There was quite a bit of blood coming from both of their legs", she said. Glenn Russell told CNN the shooting happened outside a restaurant on the corner of Logan and Danforth Avenues.

isis-killer-beheading-video-story-top First Warning Forecast: Isolated severe storms possible this evening
Jul 24, 2018 - 20:42
Tuesday , southwest onshore wind will again create breezy conditions throughout the day, especially along the coast. Storms will develop in the Gulf of Mexico and move onto the coast, becoming more numerous as they spread inland.

isis-killer-beheading-video-story-top What Mesut Ozil's retirement says about Germany
Jul 24, 2018 - 19:55
Speaking to Anadolu Agency, Ozalan from the ruling Justice and Development (AK) Party, said: "I congratulate Mesut Ozil". The 29-year-old's exit from Die Mannschaft was met with a muted response from fellow players.

isis-killer-beheading-video-story-top Tesla's call for suppliers to refund cash 'reeks of desperation'
Jul 24, 2018 - 18:55
When a company asks suppliers to retroactively give money back, it's a sign that something has gone wrong. Tesla had about $3.2 billion in cash as of March 31, after spending about $1 billion in the quarter.

isis-killer-beheading-video-story-top Tour de France fans continue to taunt Chris Froome
Jul 23, 2018 - 16:15
Briton Geraint Thomas keeps the yellow jersey after finishing ahead of his rivals. "It is what it is and I am enjoying it still". He was accused of using racial slurs against Kévin Reza a year ago and was sent him on a diversity awareness course at the time.

isis-killer-beheading-video-story-top Adam Schiff: Helsinki Talks 'Productive...For Vladimir Putin'
Jul 23, 2018 - 14:51
When asked about what came out of the summit, Bossert said, "President Trump had a productive set of conversations". Most of the times when reporters have shouted questions to him in recent days, he has declined to answer.

Tekashi 69 Has Been Hospitalized After Reportedly Getting Kidnapped And Robbed
Jul 23, 2018 - 14:42
He had previously told cops he was filming a music video in Brooklyn , New York , and left the set around 4am on Sunday. Tekashi 6ix9ine was reportedly kidnapped and robbed early Sunday morning, and is now recovering in a hospital.

isis-killer-beheading-video-story-top Israel passes Jewish nation-state law, strips Arabic of official language status
Jul 21, 2018 - 13:58
Media reports said a clause downgrades Arabic from an "official language" to one with "special status". Adalah, a legal centre for Arabs living in Israel, called the law "illegitimate" and "colonial".

isis-killer-beheading-video-story-top I'll always carry Roma in my heart, says Liverpool signing Alisson
Jul 21, 2018 - 13:43
We were not too bad previous year but we had to improve and we tried that on the transfer market. The Brazilian, 25, passed a medical on Thursday and has signed a six-year deal at Anfield.

isis-killer-beheading-video-story-top Donald Trump holds Vladimir Putin responsible for USA election interference
Jul 21, 2018 - 13:41
Indeed, when Trump came to office, many Russians hoped he would pave the way for lifting sanctions and ending years of tensions. That's drawing from protests by Democrats who say Republicans aren't doing enough to prevent Russian meddling in USA elections.

isis-killer-beheading-video-story-top White House: 'Threat' from Russian Federation still exists
Jul 21, 2018 - 12:44
The US President even went so far as to name a syndrome after himself, apparently without realising the obvious irony. Lindsey Graham, a Republican from SC , said he was happy to hear that Sanders had clarified Trump's comment.