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Crisis: Top Fiat Chrysler boss resigns

by Purvai Dua
23rd Jul 18 3:02 pm

Adding to the turmoil, the European operations chief of Fiat Chrysler, Alfredo Altavilla, has stepped down after being passed over for the chief executive’s role. His departure follows that of Sergio Marchionne, who was replaced as the CEO on Saturday because of his deteriorating health.

A spokesman added: “The group thanks Alfredo for his contributions and wishes him all the best for the future.”

The head of Fiat-Chrysler Automobiles (FCA)’s Jeep division Mike Manley was named as Marchionne’s successor at the company, while luxury brand Ferrari appointed Fiat chairman John Elkann as chair.

Manley and CFO Richard Palmer, was among the top candidates to succeed Marchionne when he stepped down next year. But after Marchionne fell seriously ill due to health complications, the company accelerated the succession plans and appointed Manley to succeed Marchionne over the weekend.

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