Chrysler CEO Sergio Marchionne says he will leave the company within five years

Article by Christian Andrei, on August 3, 2011

Sergio Marchionne, the chief executive officer of Chrysler, has hinted that within five years, he will be leaving the company. At the 2011 Management Briefing Seminars during a question-and-answer session, Marchionne said that the plans for Chrysler in the future will be “up to the guy after me -- after 2015 or maybe a year later…. There will be a Chrysler after me.”

As the current CEO of both Chrysler and controlling shareholder, Fiat S.p.A., Marchionne has started combining the two companies’ management teams over the last few weeks while retaining oversight of North America.

Earlier this week, the CEO disclosed that the company should have little trouble meeting tough new fuel-economy requirements for 2025.

In a live radio program, the CEO further stated that he expected smooth contract discussions with the UAW. He also warned that if anybody begins “any type of confrontational process,” they will be undoing everything.

Moreover, Marchionne mentioned that the vehicle industry has the engineers and suppliers to enable it to meet U.S. mileage regulations which call for 54.5 mpg by 2025, stating that the challenge was “very doable.”

He provided as an example the fuel-economy increases obtained by the new Chrysler 300 full-size sedan, which has been rated 31 mpg on the highway. He also said that though that is quite lower than an average highway and city rating of 54.5 mpg, the vehicle industry still has 14 years to develop innovations to meet those standards.

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