Fiat Chrysler Mulls Unit Spinoffs Under Marchionne's Final Plan
- Magneti Marelli, Alfa Romeo possible candidates for split: CEO
- CEO seeks ‘zero involvement’ in carmaker after 2019 retirement
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Fiat Chrysler Automobiles NV will evaluate whether to separate from some of its businesses in a strategy that Chief Executive Officer Sergio Marchionne will unveil in early 2018 as his last major project for the carmaker.
“The spinoff story is not over at Fiat Chrysler,” Marchionne told analysts Thursday on a conference call after the Italian-American carmaker reported a 16 percent increase in second-quarter earnings. “We have an obligation to purify that portfolio.” The CEO said he’ll present a five-year business plan through 2022 in the first half of next year. He reiterated that he’ll step down in 2019 and then have “zero involvement” in running the company.