ROME - (AP) -- Jeep executive Mike Manley will be the new CEO of Fiat Chrysler Automobiles after longtime leader Sergio Marchionne's health suddenly deteriorated following surgery.
The announcement after an emergency board meeting Saturday marked the end of the Marchionne era, which included the turnaround of failing Fiat, the takeover of bankrupt U.S. automaker Chrysler and the spinoffs of the heavy machinery and truck maker CNH and supercar maker Ferrari. Fiat Chrysler said Marchionne, 66, "will be unable to return to work" due to his health.
Manley, 54, has been one of Marchionne's closest collaborators at Fiat Chrysler Automobiles, and in a previous role had been responsible for product planning and all sales activities outside of North America.