Former Fiat Chrysler chief executive Sergio Marchionne has died at the age of 66, the carmaker's controlling family shareholder said on Wednesday. Marchionne fell gravely ill after suffering complications following recent surgery in a Zurich hospital. "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," FCA Chairman John Elkann, of the controlling Agnelli family, said in a statement. Marchionne was appointed CEO of Fiat Chrysler in 2009. Fiat and Chrysler merged officially under Marchionne's management on August 1, 2014.
He was replaced as chief executive last weekend after Fiat Chrysler (FCA) said his condition had worsened. Jeep division head Mike Manley was named to succeed longtime Chief Executive Sergio Marchionne, one of the auto industry's most tenacious and respected auto chiefs, who fell seriously ill after suffering complications following surgery last week. Marchionne was already due to step down next April.