The man who saved Fiat and Chrysler dead at 66

The man who saved Fiat and Chrysler dead at 66

MILAN — Sergio Marchionne, who engineered turnarounds to avoid wasting each Fiat and Chrysler from near-certain failure, has died.

The holding firm of the Agnelli household, which based Fiat, confirmed Wednesday that Marchionne, 66, had died.

Marchionne joined Fiat in 2004 and led the Turin-based firm’s merger with bankrupt US carmaker Chrysler. He constructed the dysfunctional firms into the world’s seventh-largest automaker.

Marchionne was reported to have had surgical procedure for a shoulder drawback about three weeks in the past in Switzerland. Fiat Chrysler mentioned Saturday that resulting from his deteriorating well being, Marchionne “can be unable to return to work” and located a alternative.

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