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Mike Manley named CEO of FCA amid Sergio Marchionne health crisis

Mike Manley has been immediately granted "all the powers of CEO" of Fiat Chrysler Automobiles. In a statement, FCA said its Board of Directors made this decision "in order to provide for his full authority and operational continuity for the company." Manley, who has been at the helm of Jeep since 2009 and Ram since 2015, is expected to be named an executive director for FCA after the next shareholder's meeting. In a similar statement, Ferrari said it had "named John Elkann as Chairman and will propose to Shareholders, at a meeting to be called in the coming days, that Louis C. Camilleri be named as CEO." CNH Industrial, a company that makes trucks, agricultural, and industrial equipment and which Marchionne also chairs, named Suzanna Heywood, as his replacement. Sergio Marchionne, who had served as CEO of both FCA and Ferrari, suffered "unexpected complications" as he was recovering from surgery performed earlier this month. FCA's statement adds that these complications "have worsened significantly in recent hours." Marchionne, credited with rescuing Fiat and Chrysler from bankruptcy since taking the wheel at the Italian carmaker in 2004, had been due to step down as the head of Fiat Chrysler next April. His internal successor had yet to be named. Marchionne had previously said he planned to stay on as Ferrari Chairman and CEO until 2021.Reuters contributed to this report.Related Video: Image Credit: Mark Thompson/Getty Hirings/Firings/Layoffs Chrysler Ferrari Fiat Sergio Marchionne

Ferrari reveals LaFerrari-based FXX K in Abu Dhabi

Ever since Ferrari revealed the latest evolution of its flagship hypercar series with the debut of LaFerrari at the Geneva Motor Show last year, the question on everyone's mind – aside from how it would stack up against rivals like the McLaren P1 and Porsche 918 Spyder – is what it would look like in its ultimate, unhinged, track-focused iteration. But now we need wonder no more as the Prancing Horse marque has revealed the new FXX K. The what-letters-now, you ask? FXX K. The name is drawn from the Enzo-based FXX that kicked off the company's client development program the better part of a decade ago, but with an extra letter tacked on to signify the KERS hybrid system on board. In the FXX K, that system has been further optimized: the electric motor now delivers 187 horsepower (instead of 160) and the 6.3-liter V12 has been boosted to 848 hp (up from 789) for a total output of 1,035 prancing ponies – a solid increase from the 950 hp in the road-going LaFerrari, but at 664 pound-feet, it's down in the torque department by 51 lb-ft. Of course output isn't the end of the story, and as you can see the scarlet-clad engineers in Maranello have focused a considerable amount of energy on optimizing the aero package. The front end gets a two-part splitter derived from Ferrari's victorious GT racing program, with vertical fins along the flanks, side skirts extending between the wheels, a dynamic rear wing, vertical fin and a giant diffuser. All of this and more contributes to as much as 50 percent more downforce, aided by increased mechanical grip from the Pirelli racing slicks, with carbon-ceramic brake discs measuring 15 inches across (plus or minus, front to rear) to keep it all in check. Unveiled at Ferrari's Finali Mondiali event at the Yas Marina Circuit in Abu Dhabi, the FXX K also boasts a recalibrated electronic differential, traction control, ABS, Racing SSC (Side Slip Angle Control) and a four-mode Manetinno dial on the center console to switch between levels of electric boost. In short, Ferrari has pulled out all the stops, and we wouldn't be surprised to see the FXX K taking the Fiorano lap record for anything this side of an F1 car. The record is currently held by the 333 SP at 1:11, nine seconds ahead of the road-going LaFerrari's 1:20. That's roughly the same differential between the FXX and the Enzo on which it was based, or the 599XX Evoluzione and the 599 GTO.

Mike Tyson's 1995 Ferrari F50 packs one helluva punch

Despite a reputation as a bit of a letdown following the now legendary Ferrari F40, the Ferrari F50 is still one of the most raw and unfettered sports cars to ever grace public roads. RM Sotheby's auctions is now selling a pristine 5,694-mile example that was once owned by former professional boxer Mike Tyson. Like Tyson, the F50 and its Formula One derived V12 is sure to leave a lasting impact on anyone that crosses its path. Though the celebrity tax varies from car to car, Hagerty's valuation tool says even a heavily used F50 is still a million-plus dollar car. RM Sotheby's expects the car to sell for between $2.2 and $2.4 million, slightly more than the $2.25 million estimate for a nearly flawless example, which this car appears to be. According to the listing, the car has never been driven hard and has been well maintained throughout its life. The 1990s weren't Ferrari's best years for design with soft edges and questionable fascias. Likewise, the F50 is a love it or hate it sort of design. The paint appears to be in good condition and free of any damage. The bare carbon fiber and leather interior shows little to no wear. The gated manual shifter connected to a 4.7-liter naturally-aspirated 520 horsepower V12 is a combo that's gone out of vogue. The engine is derived from the one that powered the Alain Prost's 1990 Ferrari 641 Formula One car. This car is number 73 out of 349 and one of only 50 built to US spec. Tyson sold the car with roughly 4,900 miles, with the rest accumulating since about 2005. The car's service records are incomplete, though it has had an a couple of engine-out services along a full electronic updates, a new rear seal, rebuilt oil and water pumps, the dashboard pod removed, serviced, and reinstalled, the lighting system upgraded, the ride height actuator replaced, new tires, new fuel bladders, a full brake system service, and new main seals. In addition, the car comes with two sets of tools in the front deck, owner's manuals and warranty booklet in their leather folio, wheel socket, car cover in bag, both the removable hardtop and emergency soft top with bag, utility light, its window sticker, and the "circus trunk" containing roll bars, and a carbon rear tonneau cover. Look for the car to head across the auction block on Saturday March 11. No Internet bidding, but if you have the cash to pony up the you probably can afford to be there in person. Related Video: