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Maserati's new North American CEO is Chrysler's dealer guru

There's been a bit of a shakeup among the executive ranks at Chrysler and Maserati, as the Italian sports car manufacturer has appointed Peter Grady as its new North American CEO. Grady, who we imagine is about to get a very nice upgrade to his company car, will retain his role as vice president of dealer network development for Chrysler and Chrysler Capital, and is replacing Bob Graczyk at Maserati.
"It is with pleasure and anticipation that I welcome Peter to Maserati. He brings to our company nearly 30 years of leadership and experience. His background and industry expertise will be a great basis for the continued expansion of Maserati in North America," said Maserati CEO Harald Wester in a statement.
Also joining the team at Maserati is Saad Chehab, who previously worked for the Chrysler and Lancia brands and will be the new head of marketing for the Italian brand. He'll be replaced by Al Gardner, the former boss of Chrysler's southeast business center, as the head of Chrysler brand, according to Automotive News.

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

Marchionne's FCA-GM merger might come after Ferrari spinoff

Sergio Marchionne is continuing to rumble about working out a merger with General Motors, but don't expect anything big to happen before at least early next year. That's because Marchionne would likely wait for the Ferrari spin-off to be complete before beginning his next big deal, according to Automotive News. While the Ferrari IPO on the New York Stock Exchange is expected in the coming weeks, that only concerns 10 percent of the shares. The remaining 80 percent of stock is being distributed among shareholders in 2016. Piero Ferrari holds the final 10 percent with no intention to sell. This strategy allows FCA to claim 80 percent of the Prancing Horse's profits in the automaker's 2015 financial results. According to Automotive News, the tactic has other advantages, as well. FCA would be flush with cash by waiting for the spin-off to be complete, and it would keep Ferrari separate if a GM merger actually happens. Marchionne thinks Ferrari could be valued at over $11 billion in the IPO, and it could make FCA $3.3 billion richer when complete. Marchionne believes a combined FCA/GM could sell 17 million vehicles a year globally and rake in $30 billion in earnings. In the CEO's opinion, the two automakers are wasting money by developing components to do the same things on their vehicles. Although, so far the General's top execs are rebuffing all of his advances.