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Fiat Chrysler's Marchionne being treated in Zurich

ZURICH — Fiat Chrysler Chief Executive Sergio Marchionne was being treated in a Zurich hospital on Sunday with a serious illness after suffering complications following shoulder surgery. A Fiat Chrysler spokesman confirmed Marchionne was in Zurich's University Hospital, one of Switzerland's largest medical centers. The FCA spokesman did not give the 66-year-old Italian-Canadian executive's condition or say in which of the hospital's 43 divisions he was being treated. Italian news outlets said he has been in a coma since Friday, is breathing with the help of a ventilator, and that attempts to have him breath on his own were unsuccessful. Fiat Chrysler named its Jeep division boss Mike Manley on Saturday to take over immediately from Marchionne, who had been due to step down next April. SGS, the Swiss logistics services company, also announced on Sunday that it had named a new acting chairman to take over for Marchionne, since his illness prevented him from fulfilling the role's obligations. SGS said in a statement it was "deeply saddened" by the news, as did Lausanne, Switzerland-based Philip Morris International, where Marchionne is also on the board. Marchionne was credited with rescuing Fiat and Chrysler from bankruptcy after taking the Italian carmaker's wheel in 2004. On Saturday he was also replaced as chairman and CEO of Ferrari and chairman of tractor maker CNH Industrial — both spun off from FCA in recent years. In additional management changes linked to Marchionne's illness, Ferrari named FCA Chairman and Agnelli family scion John Elkann as new chairman and Louis Camilleri becomes chief executive. Reporting by John Miller in ZurichRelated Video: Image Credit: Reuters Chrysler Ferrari Fiat US

Fiat Chrysler says it did not know about Marchionne's illness

ZURICH/MILAN — Fiat Chrysler said it knew nothing about the medical condition of Sergio Marchionne after a Swiss hospital said on Thursday it had been treating the deceased chief executive for more than a year. "Due to medical privacy, the company had no knowledge of the facts relating to Mr. Marchionne's health," a Fiat Chrysler spokesman said. Questions have been raised about how long Marchionne, who died on Wednesday, was ill and how much the company knew before it made the situation public. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The company was made aware that Mr. Marchionne had undergone shoulder surgery and released a statement about this," the spokesperson said. "On Friday, July 20, the company was made aware with no detail by Mr. Marchionne's family of the serious deterioration in Mr. Marchionne's condition and that as a result he would be unable to return to work. The company promptly took and announced the appropriate action the following day." Asked whether the scope of the statement included the board and the chairman, the company declined to comment. In emailed comments, Marchionne's family confirmed the companies had not been aware of his health conditions. "At the end of last week FCA was made aware Sergio Marchionne would no longer be able to return to work without mentioning any further details," the family said. The announcement of the death of Marchionne, 66, one of the auto industry's most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues on Wednesday. University Hospital Zurich said earlier on Thursday Marchionne had been treated for a serious illness for more than a year before his death. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. He was replaced as chief executive last weekend after Fiat Chrysler (FCA) said his condition had worsened. "Mr. Sergio Marchionne was a patient at USZ. Due to serious illness, he had been the recipient of recurring treatment for more than a year," the hospital said in a statement. "Although all the options offered by cutting-edge medicine were utilized, Mr.

Marchionne emailed Barra about merger between FCA and GM

Sergio Marchionne is adamant that global automakers will have to merge to remain profitable in the near future, and he'll tell that to anyone who's listening. Mary Barra, however, is not interested. According to The New York Times, the Fiat-Chrysler chief proposed a merger with General Motors via email to his counterpart back in March. Marchionne proposed meeting to discuss the matter, but Barra and her team reportedly rejected even entertaining the idea. This of course is not the first time Marchionne has raised the idea of a merger. He masterminded the marriage between Fiat and Chrysler, and reports have since suggested further mergers with Volkswagen, Peugeot, Ford, and others – including GM's own Opel unit. Some have taken his calls for consolidation as a weakness, but Marchionne insists that his empire is in good health – and that it's the industry as a whole which is in an untenable position. According to his view, automakers around the world need to align themselves into larger groups in order to reduce redundancy in investment, development and infrastructure – the duplication of which he terms as wasteful. "It's fundamentally immoral to allow for that waste to continue unchecked," said Marchionne to the Times. "I think it is absolutely clear that the amount of capital waste that's going on in this industry is something that certainly requires remedy," he said in a conference call with industry analysts late last month following the rejected GM approach. "A remedy in our view is through consolidation." News Source: The New York TimesImage Credit: Paul Sancya/AP Chrysler Fiat GM Sergio Marchionne merger fiat chrysler automobiles