Fiat Says It Didn't Know About CEO's Illness as Queries Surface
- Zurich hospital treated Marchionne for more than a year
- Governance expert: ‘There are medical privacy issues here’
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The shock revelation by a Zurich hospital that Sergio Marchionne had been seriously ill for more than a year raised the obvious question: How could a chainsmoking workaholic disguise it from senior colleagues?
The former CEO of both Fiat Chrysler Automobiles NV and Ferrari NV, who died on Wednesday, didn’t disclose his health condition to public shareholders of the two automakers. Their combined market value tops $50 billion, but has dropped almost 10 percent since he was replaced last week. Fiat Chrysler has said it wasn’t aware, and the family has also said it didn’t inform either company.