Sergio Marchionne will still sit as chief executive of Fiat Chrysler Automobiles until at least 2018 at he is tasked to fully implement the group’s five-year business plan that ends that year. Marchionne said he would stay to for the plan’s full implementation to make sure that its goal gets delivered.
Fiat Group Chairman John Elkann remarked he had talked with Marchionne last week over the latter his tenure as the carmaker’s top man. Elkann remarked that they managed to have Marchionne stay at Fiat for two more years.
Elkann had said in January that Marchionne would lead Fiat Chrysler through at least 2016, the end of what was then a proposed three-year plan. Elkann announced at the time that Fiat-Chrysler in May will unveil a new three-year business plan, with Marchionne leading the company at least for the entire duration of the plan.
Local media even speculated early this year that Marchionne would exit Fiat after the presentation of the business plan and following an agreement to fully acquire Chrysler. Marchionne started his CEO role at Fiat a decade ago and at Chrysler in 2009.
He both managed to turn around both carmakers. Marchionne had remarked that he could exit the group next year, with some analysts fearing that uncertainty over his tenure at the merged company could dim Fiat Chrysler’s prospects. As the leader of the combined company, he is tasked to list it and establish its headquarters outside Italy.