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Reports indicate that Fiat-Chrysler CEO Sergio Marchionne will retire four years from now after completing a five-year strategic plan to expand operations within all of the group's divisions.
“I'll undoubtedly do something else” after the end of 2018, Marchionne, 62, said last week in an interview with Bloomberg Businessweek at the Balocco test track in northern Italy. “I am not going to do any more turnarounds. I'm done; let some of the young punks do it.”
Since Marchionne took over Fiat in 2004, the Italian automaker's revenue have tripled. Following the merger with Chrysler, his goal is to boost net income fivefold to about $6.3 billion in 2018.
Fiat-Chrysler has invested €48 billion to develop more upscale vehicles including new Alfa Romeo models, and plans to increase Jeep sales to 1.9 million units mainly through overseas expansion.
Who will become the new boss? No one knows, but Marchionne said his role may be split among more than one executive.
Source : bloomberg.com
“I'll undoubtedly do something else” after the end of 2018, Marchionne, 62, said last week in an interview with Bloomberg Businessweek at the Balocco test track in northern Italy. “I am not going to do any more turnarounds. I'm done; let some of the young punks do it.”
Since Marchionne took over Fiat in 2004, the Italian automaker's revenue have tripled. Following the merger with Chrysler, his goal is to boost net income fivefold to about $6.3 billion in 2018.
Fiat-Chrysler has invested €48 billion to develop more upscale vehicles including new Alfa Romeo models, and plans to increase Jeep sales to 1.9 million units mainly through overseas expansion.
Who will become the new boss? No one knows, but Marchionne said his role may be split among more than one executive.
Source : bloomberg.com