There are few modern automotive executives who have ever managed to do what Sergio Marchionne did. He took to moribund companies and saved them both, leaving them in far, far better condition than when he found them. The Italian born Canadian citizen started his professional career as a tax consultant for big companies and eventually worked his way through multiple industries before being tapped to take over Fiat and change its fortunes.
How did he do it? With truth, with craft, and with a near mythologically strong worth ethic. He was a chain-smoking, 24-hour a day executive that wore black sweaters and jeans every day so he did not have to think about his wardrobe. He was the guy that got GM to pay $2-billion NOT to buy Fiat in 2009 and in turn Sergio took that money to develop new cars that ultimately turned the company into the profit maker that it is today. Marchionne saw value in Chrysler and incrementally bought up percentages of the company until Fiat owned it. He then took a strategy where the brands under the Chrysler name became their own identities.
Ram would be a global truck brand that was a stand alone, no longer part of Dodge. Dodge would be a performance brand with halo cars and enthusiasts as their rabid followers. Jeep would become the monster of them all, moving product at a record rate globally year after year. Chrysler itself would fade into the background with a limited number of redundant models.
His ideas worked and have continued working right up until the day he died after complications from surgery in Switzerland. Many people thought the maverick automotive CEO no longer existed. Sergio Marchionne showed them all how wrong they were when he took the job of saving Fiat and then Chrysler. Acerbic at times, painfully honest always, he’ll be missed by everyone in the industry.
Link: Here’s the NY Times Obit For Former FCA Head Sergio Marchionne
My many coworkers and myself will forever be grateful for this man coming along and saving what Daimler Benz had destroyed. Sergio took a chance when not one other automaker in the whole world would, and he gave us Chrysler people have hope once again.
RIP – Sergio Marchionne, and thank you.
My many coworkers and myself will forever be grateful for this man coming along and saving what Daimler Benz had destroyed. Sergio took a chance when not one other automaker in the whole world would, and he gave us Chrysler people a reason to have hope once again.
RIP – Sergio Marchionne, and thank you.