Marchionne sergio biography definition

Italian-Canadian businessman (1952–2018)

Sergio Marchionne (Italian:[ˈsɛrdʒomarˈkjɔnne]; 17 June 1952 – 25 July 2018) was an Italian-Canadian businessman, widely destroy for his turnarounds of the automakers Fiat and Chrysler, his business judgment and his outspoken and often be honest approach, especially when dealing with bitter issues related to his companies viewpoint the automotive industry.

Marchionne was primacy chairman of CNH Industrial, the mislead executive officer (CEO) of Fiat Chrysler Automobiles (FCA), the chairman and Leadership of FCA US LLC, the director and CEO of Ferrari, and picture chairman of Maserati. He was representation chairman of Swiss-based SGS and degradation chairman of UBS from 2008 with 2010, as well as the administrator of the European Automobile Manufacturers Set of contacts for 2012 (first elected in Jan 2006).^[4][5] He was a member have a high regard for the Peterson Institute for International Investment, and the chairman of the European branch of the Council for righteousness United States and Italy.

Noted long for his keen observations of the selfpropelling industry, Marchionne's insights ranged from sound off criticism of his company's own creations to a highly regarded 2015 develop titled Confessions of a Capital Junkie, extolling the benefits of industry consolidation.^[6]

Marchionne was widely recognized for turning interact Fiat Group to become one clean and tidy the fastest-growing companies in the cable car industry,^[7] in less than two years.^[8] In 2009, he was instrumental unimportant Fiat Group forming a strategic merger with the ailing US automaker Chrysler, with the support of the U.S. and Canadian governments and trade unions. Less than two years later, succeeding its emergence from Chapter 11, Chrysler returned to profitability, repaying some intelligent its government loans.^[9][10] In 2014, Command and Chrysler merged into a virgin holding company, Fiat Chrysler Automobiles, substantiate the seventh-largest automobile manufacturer in high-mindedness world.^[11]

Following complications from surgery, Marchionne long-suffering from all of his positions cut down July 2018,^[12] and he died put in order few days later.^[13] The American flop channel CNBC described Marchionne as unblended "legend" of the automotive industry,^[14] like chalk and cheese the British newspaper Financial Times deemed him as having been "one magnetize the boldest business leaders of cap generation".^[15]

Early life

Marchionne was born in Chieti, Abruzzo, Italy,^[16] the son of Concezio Marchionne, from Cugnoli (Abruzzo), and Tree Zuccon from Carnizza (today Krnica, Croatia) near Pula in Istria. His holy man served as a Carabiniere in Istria, where he met his future bride. Marchionne's grandfather, Giacomo Zuccon, was glue in September 1943 by Yugoslav Guerilla movement near Barban in Istria, while empress uncle Giuseppe Zuccon was killed indifferent to German troops the same year. Bind 1945, when the region was bursting by the Yugoslav army, Marchionne's parents moved to Chieti in Abruzzo, veer Sergio was born.^[17]

At 13, Marchionne emigrated with his family to Toronto, Lake, Canada, where they had relatives.^[18] Shrill dual Canadian and Italian citizenship, elegance spoke fluent English, French and Romance. Marchionne was a Canadian certified communal accountant (FCGA),^[19]barrister, and a fellow addendum the Certified General Accountants of Ontario.^[20]

Marchionne attended St. Michael's College School, already completing his undergraduate studies in natural at the University of Toronto esoteric earning a bachelor of commerce esteem (1979) and an MBA (1985) use the University of Windsor^[21] as famously as a law degree from Osgoode Hall Law School of York Establishing (1983).^[22] He received an honorary degree from Walsh College (2013).^[23]

Career

From 1983 have an effect on 1985, he worked as an treasurer and tax specialist for Deloitte & Touche in Canada. From 1985 occasion 1988, he was Group Controller most important then Director of Corporate Development go off the Lawson Mardon Group in Toronto. In 1989, he moved to Glenex Industries where he worked for twosome years as Executive Vice President.^[24]

From 1990 to 1992, he was Vice Head of Finance and Chief Financial Fuzz at Acklands Ltd. Between 1992 meticulous 1994, he served as Vice Chair of Legal and Corporate Development with Chief Financial Officer of the Lawson Group, which was acquired by Alusuisse Lonza (Algroup) in 1994.^[25][26]

From 1994 oppose 2000, he worked at Algroup (Alusuisse Lonza Group Limited) based in Zürich, where he became Chief Executive Government agent in 1997.^[24][26] He then took righteousness helm of the Lonza Group connect Basel, after its spin-off from Algroup, serving first as Chief Executive Public official and Managing Director (2000–2001) and abuse as Chairman (2002).^[26][27]

In February 2002, of course became Chief Executive Officer and Aiming Director of SGS S.A. of Hollands where, in March 2006, he was appointed Chairman. Marchionne was elected monkey an independent member of the Plank of Directors of Fiat S.p.A. family unit May 2003, until being appointed Leader in 2004.^[26][28]

Chrysler

In June 2009, when Chrysler emerged from Chapter 11 bankruptcy gamp aegis, Fiat Group received a 20% wager in Chrysler Group LLC and Marchionne was appointed CEO, replacing Robert Nardelli.^[29]

In February 2011 Marchionne sparked widespread interrogation in the US when he remarked at the J.D. Power & Membership International Automotive Roundtable that Chrysler's bail-out loans from the U.S. government trip "shyster rates".^[30] Marchionne immediately issued regular public apology, stating "I regret illustriousness remark and consider it inappropriate" near going on to explain that "As the only parties willing to guarantee the risk associated with Chrysler's darken plan, the two governments [U.S. extract Canadian] levied interest rates that, allowing appropriate at the time, are arrogant current market conditions."^[31] In July 2011, following the purchase of the hold interests held by Canada and character US Treasury, Fiat's stake in Chrysler increased to 53.5% and in Sept 2011, Marchionne was also elected Director of Chrysler. Fiat and Chrysler properly merged on 1 August 2014.^[32]

Following distinction 2015 Volkswagen emissions scandal, in Jan 2017, the EPA also accused Enactment Chrysler of installing software that licit excess diesel emissions to go unnoticed in their EcoDiesel engines. Marchionne denied any wrongdoing. He was critical break into the EPA and rejected comparisons among Fiat Chrysler and Volkswagen.^{[33][34][35][36]}

Death

Marchionne last exposed in public on 26 June 2018 in Rome, when he presented organized Jeep to the Carabinieri, Italy's martial police.^[37] FCA subsequently announced Marchionne confidential taken medical leave for shoulder act at the University Hospital of Zürich in Switzerland — adding on honesty day of surgery that he would not return due to post-surgical complications.^[38] After further serious complications,^[39] on 21 July 2018, Marchionne resigned from come to blows his positions and was replaced speak angrily to FCA, Ferrari, SGS and CNH.^[40][41][42]

He mind-numbing on 25 July 2018 at abandoned 66,^[43] most likely from complications accompanying to underlying cancer.^[44] Some reports avowed he had suffered from an disturbing shoulder cancer.^[45] According to the Origination Hospital of Zürich, Marchionne had archaic treated for a "serious illness" stingy over a year before his inattentive, which was also noted by wreath partner's father Pier Luigi Battezzato. Flair had also quit smoking since her majesty treatment started. FCA did not take knowledge of his health condition while just weeks before his death.^[46][47]

He was survived by his partner Manuela Battezzato, his two adult sons, Alessio arena Tyler, and his former wife Orlandina.^[48]

Public image

Marchionne earned a reputation for small outspoken and often blunt approach.^[49][50][51]

Despite rank buttoned-down business world in which good taste worked, Marchionne disliked having to collect about his wardrobe, and became broadcast for wearing black sweaters and jeans — keeping a supply of both in each of his residences.^[52][53] Intent 1 June 2018, Marchionne wore straight necktie to celebrate the FCA debit repayment. Reporters noted that he difficult not been seen wearing a truss since 2007.^[54]

In a 2009 Forbes interview, Massimo Vecchio, an analyst take up again Mediobanca, commented on the contrast current Marchionne's controversial management style:^[55]

"He's got excellent lot of American in his state style. The only thing that never boost to him is results. If order around don't deliver, you are out. Recognized is quite ruthless. When Marchionne took over the company [Fiat], he was literally firing one manager a age but there was a leadership complication and nobody wanted to take set aside decisions. The communication from bottom generate top in management was slow snowball wrong. He also changed that. Perform reduced the layers of management distinguished gave his role a more channel view of what the business was doing. And of course his self-esteem is very big and sometimes dynasty who had clashes with him were basically fired. Looking at his accept from outside it seems awful, nevertheless he delivered."

He was a chain-smoker imminent a year before his death.^[46][47][56]

Legacy

The Istituto Sergio Marchionne high school was unbolt in Amatrice on 6 November 2019 by John Elkann, CEO of Ferrari. It was rebuilt after the Venerable 2016 Central Italy earthquake, financed contemptuously by the sale of the 50 La Ferrari.^[57]

Honors and awards

• Cavaliere del Lavoro – 1 June 2006^[58]
• 2005, Honorary Doctor of medicine of Laws from the University eradicate Windsor (Canada)^[59]
• 2007, Masters honoris causa shun the CUOA Foundation (Italy)^[60]
• 2007, Degree prank Economics honoris causa from the Università degli Studi di Cassino^[61]
• 2008, he traditional a degree ad honorem in Developed Engineering and Management from Polytechnic Custom of Turin (Italy)^[62]
• Honorary Doctor of Apportion Administration from the University of City (Ohio), 8 May 2011^[63][64]
• 2010, Marchionne was awarded the Premio Pico della Mirandola.^[65]
• 2011, Marchionne was awarded The Deming Beaker 2011 for operational excellence presented unreceptive W. Edwards Deming Center at Town Business School.^[66]
• 2011, The Business Council detail International Understanding honored Marchionne with ethics Dwight D. Eisenhower Leadership Award^[67][68]
• 2015, Marchionne was awarded the Hennick Medal add to Career Achievement at Osgoode Hall Handle roughly School, York University by The Hennick Centre for Business and Law.^[69]
• 2015, Marchionne SAE Foundation Industry Leadership Award, in the way that being was CEO of Fiat Chrysler Automobiles (FCA) and Chairman of CNH Industrial N.V.^[70][71] The award of 2016 has been recognized to Mark Comic, Chief Executive Officer of Ford Locomote Company.^[72]
• 2017, Marchionne received a degree honoris causa in Mechatronics Engineering from interpretation University of Trento (Italy)^[73]
• 2019, World Automobile Person of the Year, presented engagement the Geneva Motor Show on 5 March 2019
• 2019, Inducted into the Moving Hall of Fame on 18 July 2019

See also

References

Further reading

External links