Fiat Names Jeep Chief Manley to Replace Ailing CEO Marchionne
- English-born executive has led SUV brand’s global expansion
- Marchionne’s health has worsened in recent hours: company
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Fiat Chrysler Automobiles NV named the head of its Jeep and Ram brands, Mike Manley, as chief executive officer to replace Sergio Marchionne, after a sudden deterioration in his health left the 66-year-old executive unable to return to work.
The abrupt departure of the executive who saved both Fiat and Chrysler and then forged a profitable trans-Atlantic operation also led to the selection of new leaders at Ferrari NV and CNH Industrial NV, which were spun off from Fiat during Marchionne’s 14-year tenure, the companies said Saturday.