Sergio Marchionne, the former Chairman and CEO of Ferrari, has died in hospital at the age of 66.
Fiat Chrysler Automobiles (FCA) and Ferrari confirmed on Saturday that Marchionne would not be returning to work after suffering health complications following surgery in Zurich. By Wednesday FCA chairman John Elkann issued a statement saying Marchionne had passed away in hospital.
"Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," Elkann said.
Marchionne, who was also the Chairman and CEO of FCA, had been running Ferrari since taking over from Luca de Montezemolo in 2014.