Former Fiat Chrysler (FCA) CEO Sergio Marchionne, who played a pivotal role in two corporate turnarounds, has died at the age of 66.
Marchionne was replaced as CEO of the carmaker last weekend and also stepped down from his dual role as CEO of Ferrari, the race car manufacturer spun off from Fiat more than 2 years ago. The company said at the time that his condition had worsened after he fell gravely ill following complications during surgery in a Zurich hospital.
In an emotional letter at the weekend, Elkann hailed Marchionne’s tenure, sought to reassure employees about the future, and rally them around newly appointed CEO Mike Manley.
Tributes from top industry execs poured in throughout Wednesday, with Bill Ford calling Marchionne “one of the most respected leaders in the industry.”