Just days after being replaced as Fiat CEO and Ferrari chairman, Sergio Marchionne has died as a result of the complications suffered after recent shoulder surgery.
Over the weekend, the Italian-Canadian, who revived the Italian carmaker by pioneering a merger with Chrysler and has helped Ferrari’s Formula 1 team turnaround their form in recent years, was relieved of his duties due to health problems.
Jeep CEO Mike Manley is set to take over at Fiat while company heir John Elkann has been named chairman at Ferrari with Louis Carey Camilleri recommended for CEO.
Announcing the news his Marchionne’s passing on Wednesday, Elkann said: “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.
“My family and I will always be grateful for what he has done.”
Marchionne made quite an impression on F1 during his time at Ferrari, taking an aggressive stance against owners Liberty Media and threatening to pull the Italian brand out of the sport over proposals forward for 2021.
At the same time though, he also initiated the return of Alfa Romeo to the grid, as technical partner and title sponsor at Sauber.
During the German Grand Prix weekend, Mercedes CEO Dieter Zetsche paid tribute to Marchionne and also spoke of the impact of his departure.
“I have always worked together well with Sergio, even throughout our battles,” he told the Ansa news agency.
“I don’t know what will happen now, because we must start over. I have no doubt that I will continue to have good relations as I did with Sergio.
“It is clear, however, that we had reached certain fixed points on which we could work together. This will no longer be possible,” he added.
“The future is a big question mark.”
