Here’s What Analysts Are Saying About Fiat’s ‘Dramatic’ Switch
- Manley ‘extremely experienced’ as Jeep head, analysts say
- Fiat-linked companies’ shares fall amid leadership change
Fiat Chrysler Automobiles NV and Ferrari NV are falling in Milan trading amid a “dramatic and sudden” leadership transition after the carmakers respectively appointed Mike Manley and Louis Camilleri as their chief executive officers over the weekend following the sudden deterioration in the health of industry giant Sergio Marchionne.
Manley has successfully run the Jeep brand for the past few years as the SUV-focused division has become one of Fiat’s pillars for future growth, brokerages note. Evercore ISI doesn’t foresee the “change in captain altering the course of the ship,” according to a note. Still, analysts highlight that stocks linked to the Fiat Chrysler group may be under pressure in the short term until further visibility on strategy emerges.