Health emergency for Marchionne leads FCA to appoint Mike Manley as CEO

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Sergio MarchionneSergio Marchionne

Following an emergency meeting over the weekend, FCA announced that because of unexpected health problems Sergio Marchionne will no longer serve as CEO and has been replaced by Mike Manley who has led the company’s Ram and Jeep brands.

Marchionne, 66, experienced complications following shoulder surgery about three weeks ago. He remained hospitalized today in extremely serious condition surrounded by family in a Zurich hospital, according to detroitnews.com.

“I am profoundly saddened to learn of Sergio’s state of health. It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice,” FCA Chair John Elkann said Saturday in a company press release.

Mike ManleyMike Manley

FCA would not elaborate on Marchionne’s health.

“Mr. Manley and his management team will proceed with the implementation of the 2018 – 2022 Business Plan as presented on June 1 of this year, a plan that will further assure FCA’s strong and independent future,” FCA announced.