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FCA's European boss quits after losing out as Marchionne's replacement

MILAN — Fiat Chrysler's European boss has quit, adding to the problems facing new CEO Mike Manley, who must deliver on promises to boost production of SUVs and catch up with rivals in electric cars. Jeep division head Manley was named on Saturday to succeed Chief Executive Sergio Marchionne, one of the auto industry's most tenacious and respected leaders, who fell seriously ill after suffering complications following surgery. It emerged on Monday that Alfredo Altavilla, head of Fiat Chrysler's business in the Europe, Middle East Africa had resigned, according to a source with knowledge of the matter. He had been a rival for the top job along with Manley and Chief Financial Officer Richard Palmer. It's another complication to new CEO Manley's task of executing his predecessor's plan to keep the world's seventh-largest carmaker competitive in the absence of a merger. Marchionne had been due to step down next April, so the market reaction was limited on Monday. The shares initially fell more than 5 percent, but then pared some losses and were down 2.4 percent by 0930 GMT. "The downside may be modest, at least in the next 12 months. But long-term concerns will build — Marchionne ran FCA in a command and control style, with constant firefighting measures," said Bernstein analyst Max Warburton. Fiat Chrysler Automobiles (FCA) said British-born Manley would pursue the strategy that Marchionne outlined last month. FCA has pledged to increase production of sport utility vehicles and invest in electric and hybrid cars to double operating profit by 2022. It also unveiled bold targets for Jeep, which has become FCA's ticket to creating a high-margin brand with global appeal. Reviving struggling brands Analysts said that choosing Manley, 54, under whose watch Jeep's sales surged fourfold, sent a clear message that FCA was staying on course and would keep the Jeep brand at the heart of its growth plan. "Manley knows that his primary focus is on execution and that, already, he has a strategy into which his team has bought," said George Galliers, an analyst at Evercore ISI. "There is no reason the 2022 plan cannot be executed." Under Manley, the company is expected to sharpen its focus on revamping individual brands, including ailing Fiat in Europe, Chrysler in the United States and Alfa Romeo, which has yet to turn a profit despite multibillion-euro investments.

Brazilian F1 driver Felipe Massa to retire at end of 2016 season

Williams Formula One driver Felipe Massa announced plans to retire at the end of the 2016 season ahead of the Italian Grand Prix. After 14 years in F1, the 35-year-old Brazilian driver competed in 242 races and won 11 grands prix over his tenure, placing him in the ranks as one of the most experienced drivers in the sport. The last race of the 2016 season in Abu Dhabi will be Massa's 250th race, capping off a career where the Brazilian drove for Sauber, Ferrari, and, most recently, Williams. In an emotional video, which was posted on his Facebook, Massa confirmed that he would be leaving Formula One and provided some insight into his lengthy career. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The move to announce his retirement before the Italian Grand Prix was a premeditated decision as it was the same location where Michael Schumacher (who was a large influence on Massa) announced his retirement. Massa also spent numerous years behind the wheel of a Ferrari F1 car and came extremely close to winning the title in 2008 in one. The Italian Grand Prix, then, is the ideal spot for the announcement. Massa's career, which the F1 driver claims has given him "great pride, joy and happiness," started in 2002 with the Swiss-based Sauber team. In his first season, Massa scored four championship points and went on to spend the following season as one of Ferrari's test drivers. For the 2004 season, Massa rejoined Sabuer's lineup alongside Giancarlo Fisichella, where he finished with a total of 12 championship points. The 2005 season was Massa's last with Sauber as the Brazilian was partnered with former champion Jacques Villeneuve, but still managed to score a total of 11 championship points. The 2006 F1 season started the most successful part Massa's career. Massa partnered with the legendary Schumacher, where the Brazilian won his first F1 race in Turkey. Ferrari retained Massa for 2007 to drive with Schumacher's replacement, Kimi Raikkonen, who would go on to win the Driver's Championship by one point. The next year, 2008, was Massa's most memorable with the driver losing out on the championship by a single point to McLaren's Lewis Hamilton. In 2009, Massa was involved in a life-threatening accident in qualifying for the Hungarian Grand Prix where the driver was struck in the head by a loose spring from Rubens Barrichello's vehicle.

2016 Italian Grand Prix race recap

The Italian Grand Prix at Monza is called the Temple of Power. Furthermore, the winning driver in Italy started on pole in 13 of the last 16 years, and only one driver in that time has won the Italian GP from behind the front row of the grid: Rubens Barrichello in 2002 and 2009. By this point in the current Formula 1 season (era?) we know what it means when a track emphasizes both power and pole position: Mercedes-AMG Petronas. The Silver Arrows locked out the front row with Lewis Hamilton on pole. A poor start prevented the Briton from capitalizing on the advantage, so teammate Nico Rosberg and four other drivers swept by him before the end of the second turn. Mercedes would later say a clutch issue caused Hamilton's botched start, but that didn't help the man who'd just fallen to sixth place. Rosberg got about two laps of television coverage on his way to an unbothered victory ahead of Hamilton. Ferrari made Hamilton's second-place finish easier by sticking to a two-stop strategy; both Mercedes drivers pitted once. We aren't sure why Ferrari didn't at least attempt a one-stopper once Sebastian Vettel and Kimi Raikkonen had been gifted second and third on track. A pit stop took about 23 seconds from entry to exit and Vettel finished third, six seconds behind Hamilton. Raikkonen finished fourth, another seven seconds behind Vettel. Perhaps the Scuderia's tire usage wouldn't allow longer stints, but we'll never know. Daniel Ricciardo wielded his Red Bull like a scalpel to make an impeccable pass on Valtteri Bottas in the Williams and take fifth place. Ricciardo, trailing another Italian province behind, somehow closed the gap on Bottas in just the braking zone of Turn 1, pulling alongside near the apex without locking a wheel on entry nor running wide on exit. Bottas claimed sixth ahead of Red Bull's Max Verstappen, Sergio Perez in the Force India, Felipe Massa in the second Williams, and Nico Hulkenberg in the second Force India sealing the top ten. Monza did spring a few on-track surprises. Esteban Gutierrez drove Haas F1 into Q3 for the first time this season, the Mexican setting the sixth-best time in Q2. Manor Racing planned for Monza all season, Pascal Wehrlein repaying the effort by qualifying 13th. Fernando Alonso pitted his McLaren on Lap 50 of the 53-lap race for a set of super soft Pirellis, then set the fastest lap. It's Honda's first fastest lap since 1992. The biggest moments happened off the track.