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Marchionne Gains $13 Million With Stock Sale After Ferrari Deal

Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne made about 10.7 million euros ($13.4 million) from a surge in the automaker’s share price after he announced a plan to spin off Ferrari.

Marchionne exercised options for 6.25 million Fiat Chrysler shares on Oct. 30 and sold that amount of shares by Oct. 31. He did the same for an equal amount of stock in CNH Industrial NV, the truck and tractor maker that was previously part of the Fiat group.