In Carlos Tavares, Fiat Family Finds Heir to Marchionne Legacy
- PSA Group chief to lead Fiat-Peugeot powerhouse after merger
- Agnelli scion Elkann seeks to fulfil goals of his late mentor
As the scion of the Agnelli family’s industrial dynasty, John Elkann honed his management skills under Sergio Marchionne, who brought Fiat back from the brink before turning it into a global force with the purchase of Chrysler. When Marchionne died suddenly last year, Elkann pushed ahead alone with their quest for another major partner.
On Thursday, Fiat Chrysler Automobiles NV announced a combination with France’s PSA Group to create a regional powerhouse rivaling Volkswagen AG with a stock-market value similar to that of Honda Motor Co. Elkann stands to gain a new sidekick: Carlos Tavares, PSA’s 61-year-old chief executive officer, who has shown his mettle building an international automotive group while keeping costs under control. Those qualities would make him the heir apparent of the empire Marchionne built.