Sergio Marchionne, the CEO of Fiat Chrysler, has stepped down after unexpected complications during his recovery from surgery, the company announced. Mike Manley, the CEO of Jeep, will replace Marchionne as CEO, effective immediately. Louis C. Camilleri, the former chairman of Philip Morris International has been chosen to replace Marchionne as CEO of Ferrari, where he also lead, the company announced today.
Our thoughts and prays are with Sergio Marchionne of @fcagroup & @Ferrari this evening, that he may recover from his worsened health. He is a giant in our industry and we @astonmartin hope he recovers quickly.
— Andy Palmer (@AndyatAston) July 21, 2018
Earlier this month, Fiat Chrysler announced Marchionne was going on medical leave to have an operation on his right shoulder, according toBloomberg. A new CEO was expected to be named next year to replace Marchionne, who had planned to retire from Fiat Chrysler in 2019, but those plans changed as his condition “worsened significantly in recent hours” according to the company.