Deals
Marchionne Embarks on Final Mission Impossible at Fiat Chrysler
- Carmaker predicted to fall short of profit, sales goals
- Marchionne may seek deal with tech giant to avoid `mediocrity'
Sergio Marchionne.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
As Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne starts to look beyond his reign at the carmaker, he’s betting he can silence naysayers one more time.
The savvy dealmaker has set himself the monumental task of erasing 7 billion euros ($7.65 billion) in debt and more than tripling net income to about 5 billion euros by 2018. With plans to expand Alfa Romeo into a serious BMW challenger proving tougher than expected and no game-changing deal on the horizon, most analysts aren’t giving him much of a chance.