Chrysler CEO successor remains unclear due to IPO

Article by Anita Panait, on December 17, 2013

While General Motors and Ford each already has someone who will lead them in the future as chief executives, the same could not be said for the third member of the Detroit 3. Chrysler is currently led by Italian CEO Sergio Marchionne, who also sits atop parent Fiat SpA. However, it remains unclear who will succeed him in case he steps down from the US carmaker, partially because Chrysler is in a federally imposed quiet period due to its upcoming initial public offering.

What is clear is that whoever becomes Chrysler’s next CEO has very big shoes to fill. Fiat and Chrysler are still not fully integrated and have separate management structures that report to a 20-member steering committee called the Group Executive Council. This structure could remain as it is, or the top jobs could be delegated to two or more people.

Marchionne said in an interview with French weekly magazine Le Point that his "successor is among" the 20 members of Chrysler-Fiat's Group Executive Council. He added that his successor is "in a small group of five people."

The Chrysler-Fiat Group Executive Council meets monthly, either in Italy, the US, or in Brazil or China. The council approves strategies and investments for the two carmakers and associated operations. Around half of the Group Executive Council is from Chrysler, although a number of them have multiple roles in Marchionne's management structure. The rest of the council are from Fiat's top executive ranks.

Topics: chrysler, ceo, ipo

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