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Who are Mike Manley, Louis Camilleri, and Suzanne Heywood?
Sun, Jul 22 2018MILAN – Fiat Chrysler aid on Saturday that boss Sergio Marchionne, 66, would not be returning to work because he was gravely ill. In addition to being FCA chief executive, Marchionne was also CEO and chairman of luxury sports car brand Ferrari and chairman of truck and tractor maker CNH Industrial, which were spun off from FCA in recent years. Following is a brief summary on the executives who have been appointed to replace him in the various roles: MIKE MANLEY The 54-year-old Briton picked to become the FCA's new CEO has been leading the group's top brand Jeep since 2009, first as Jeep President and CEO at Chrysler and then as FCA's Jeep head. In 2015 he was also appointed head of the Ram brand. Under his tenure, Jeep turned into a global brand becoming, together with Ram, FCA's profit engine. Jeep sold nearly 1.4 million cars last year compared with less than 338,000 in 2009. Manley had worked as DaimlerChrysler's head of network development in Britain since 2000, having earlier worked for several years in car dealership. At Chrysler, he headed product planning and all sales activities outside of North America and then became the group's chief operating officer for Asia and the lead executive for the international activities outside of NAFTA. LOUIS CAMILLERI The new Ferrari CEO was already a board member at the luxury sportscar maker before his latest appointment. He is also the chairman of Philip Morris International, where he also held the job of CEO from 2008 to 2013. Born in 1955, Camilleri had joined Altria Group, which controls Philip Morris, in 1978 holding various positions until he became chief financial officer in 1996 and then CEO in 2002. Camilleri was also chairman of Kraft Foods from 2002 to 2007. Malta's Prime Minister Joseph Muscat wished Camilleri luck on Twitter saying he was proud to have "a bit of Malta in Ferrari" thanks to the new CEO, who was born in Egypt to Maltese parents. SUZANNE HEYWOOD The new, British-born chairwoman of CNH Industrial has been since 2016 the managing director of EXOR, the holding company through which the Agnelli family controls FCA. Heywood, 49, started her career at the British Treasury and then joined McKinsey in 1997, leading for many years the consultancy firm's global service line on organization design. She eventually became a senior partner there. Heywood sits on the board of The Economist, which is controlled by EXOR, and the board of the Royal Opera House, where she is also deputy chair.
Mike Manley named CEO of FCA amid Sergio Marchionne health crisis
Sat, Jul 21 2018Mike 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
Fiat Chrysler begins Magneti Marelli spinoff
Thu, Jul 19 2018MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.
Jolly time: Fiat's Spiaggina concept honors the 1958 beach classic
Fri, Jul 6 2018You're looking at one of the coolest Fiat concepts of recent years. Built to honor the 60 th anniversary of the original Fiat Jolly, or "Spiaggina," the 500 Spiaggina Concept is a lovely little bathtub of a Fiat with cork floors. There's just the tiniest vestigial aero screen left to remind us that the 500 does originally come with a roof structure, and the triangles of the cut-down A-pillars are just tall enough to house small speakers, above the now blue-white dashboard. For structural rigidity's sake, and to protect the occupants in a rollover situation, there's a white hoop towering above the seatbacks, but mostly it just makes the car look more like a plastic coolbox. And very cool it is, as it looks like the perfect thing for driving to a Mediterranean beach — it even comes complete with a shower so one can get rid of excess sand. And of course it's a manual: The dashboard-mounted gearshift leaves room for the full-width bench seat that has taken the place of regular buckets. The rear seats are no more, as the rear end of the car has been dedicated for storage, complete with a fold-down tailgate. The whitewall tires exaggerate the wheels to a great effect, as the retro wheels now look like there's just the slightest rubber band around them. The Spiaggina concept has been created by Garage Italia, which is run by Fiat heir Lapo Elkann. Pininfarina has also been involved with the concept, even if the original wicker-work Jolly was built by Carrozzeria Ghia instead. While the completely open Spiaggina will remain a flight of fancy and a one-off, it will actually spawn a production version, albeit a tamer one. There will be a matching "Volare Blue" convertible production version called the Spiaggina '58, which will retain the roof structure and the folding roof of the stock convertible. It's good, but it's not cut-down, cork-floored concept good; 1,958 cars will be made. Related Video:
Hyundai reportedly eyeing a takeover of FCA
Fri, Jun 29 2018The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover
FCA reportedly joins the crowd skipping this year's Paris Motor Show
Thu, Jun 14 2018It's likely FCA vehicles will not be seen at the Paris Motor Show this year. Automotive News is reporting that Fiats, Alfa Romeos, Jeeps and Abarths will not be a part at the show, based on information circulating in the French media. There's a possibility that Maseratis will be displayed at a special section dedicated to upscale cars, but Maserati too will not have a show stand of its own. Ferrari will have a stand, but as it happens, the supercar maker has been a standalone brand since 2015. Skipping the Paris show follows FCA's decision not to take part in the Frankfurt show last year, and the two shows alternate as the biggest autumnal automotive show in Europe. Volkswagen will also not attend the event, and neither will Ford, Nissan or Infiniti. This has become a problem for car shows worldwide, including Detroit's North American International Auto Show. FCA has not released a formal statement about the matter, but a FCA spokesman, quoted by the French magazine L'Argus, reportedly said that the sales and publicity brought in by the show stand would not justify the costs of attending. The news mirrors Volvo's newly announced plan to not take part at the next Geneva Motor Show, but to arrange "bespoke activities" to introduce its cars instead. Related Video:
Feds accuse Fiat Chrysler, UAW of conspiring to break labor laws
Wed, Jun 13 2018DETROIT — Top officials of Fiat Chrysler Automobiles and the United Auto Workers union conspired to violate U.S. labor laws, federal prosecutors alleged in a court document, saying a former executive at the automaker knew bribes paid to union leaders were designed to "grease the skids" in labor negotiations. U.S. Justice Department officials for the first time called the company and the union "co-conspirators" in a document related to a guilty plea agreed by former Fiat Chrysler director of employee relations Michael Brown. The document was filed with the U.S. District Court in Detroit on May 25. Its contents were reported by the Detroit News on Wednesday. Brown pleaded guilty to one count of concealing a felony. The plea agreement stated that he knew Fiat Chrysler executives authorized $1.5 million in improper payments and travel, liquor, cigars and other goods for UAW officials who served on the union's negotiating committee. Prosecutors say FCA executives paid UAW representatives to influence union business. including collective bargaining on contracts ratified in 2011 and 2015. The government contends money was run through the UAW-Chrysler National Training Center, via false charitable donations and training center credit cards. Fiat Chrysler Chief Executive Officer Sergio Marchionne has said in the past that the misconduct "had nothing whatsoever to do with the collective bargaining process" and the "egregious acts were neither known to nor sanctioned" by the company. Fiat Chrysler had no further comment Monday. Outgoing UAW President Dennis Williams told union leaders at a conference in Detroit on Monday "our leadership team had no knowledge of the misconduct — which involved former union members and former auto executives — until it was brought to our attention by the government." Brown pleaded guilty on May 25, according to court documents, and will be sentenced on Sept. 20. Five other people have pleaded guilty in the government's ongoing investigation into the UAW and Fiat Chrysler, including the wife of a late UAW official, two other former UAW employees, former Fiat Chrysler vice president Alphons Iacobelli and another former Fiat Chrysler employee. Reporting By David Shepardson and Nick CareyRelated Video: Government/Legal UAW/Unions Chrysler Dodge Fiat Jeep RAM FCA
Fiat adds Adventurer Edition package to 2018 500X compact crossover
Wed, Jun 13 2018Fiat says it will offer the 2018 500X in a new Adventurer Edition package starting this summer, adding a rugged outdoors theme to its quirky Italian subcompact crossover. The Adventurer Edition is based on the 500X Trekking model, and its more sporty front and rear fascia designs. It adds 18-inch aluminum wheels, black roof rails, crossbars, orange mirror caps and body-side graphics along the bottom of the doors. It also gets front and rear splash guards. Inside, buyers get a molded rear cargo tray and all-weather front and rear slush mats. It'll come in a choice of four exterior paint colors: a white clear coat, black clear coat, graphite grey and grey metallic. Interior color choices are black or brown. The 500X Trekking is equipped with a naturally aspirated 2.4-liter inline-four-cylinder engine that produces 180 horsepower and 175 pound-feet of torque and is mated to a nine-speed automatic. It's available with front- or all-wheel drive, the latter of which uses a disconnecting rear axle to improve efficiency when all-wheel-drive isn't needed. It also comes with a slew of advanced safety technologies and a Uconnect 7-inch infotainment touchscreen. Choosing the Adventurer Edition package will add $945 to the $24,680 starting price for front-wheel drive and the $26,580 floor for all-wheel-drive-equipped version. Both include Fiat's $995 destination charge. Related Video:
Dodge Charger and Challenger will live on, but a new Viper is unlikely
Tue, Jun 5 2018BALOCCO, Italy — As FCA's latest five-year plan was presented last week, most of the day was focused on four brands — Jeep, Ram, Maserati and Alfa Romeo. That left a lot of people wondering about the future of the Chrysler, Fiat and Dodge nameplates. At the last five-year event, Dodge was one of the main features. We heard plans for an expanded lineup that included refreshed versions of the Viper, Challenger and Charger, the last two riding on the Alfa Romeo Giorgio platform. Times sure have changed. Dodge isn't going away, but the brand will be narrowed and focused. Performance is the name of the game, but don't look for a new Viper anytime soon. FCA CEO Sergio Marchionne simply said it's "not in the plan." Marchionne thought it was a great idea but that it couldn't live on as a standalone product. If it does eventually return, expect it to share parts with other FCA products, possibly with one of the upcoming Maseratis. On the other hand, Marchionne confirmed that both the Dodge Challenger and Charger will continue to live on. In the last five-year plan, FCA said that the pair would share underpinnings with future Alfa Romeos. That was promising news for those hoping for smaller, lighter versions of each model that would be better suited to fight models like the Ford Mustang and Chevy Camaro. It seems the Alfa Romeo platform is off the table. Marchionne said the current LX platform would indeed live on, though it would be "unrecognizable" compared to what we have today. The LX architecture is ancient, and, although it's been continuously updated, its basic bones date back to the DaimlerChrysler days. Marchionne said that the Alfa platform just doesn't have the character American shoppers are looking for in those vehicles. It's unclear when the next iteration of the Charger and Challenger will arrive, but expect another refresh sometime before 2022. Look for an updated version of the tried-and-true Hemi V8. Rumors continue to swirl about a larger and more powerful 7.0-liter variant dubbed the Banshee, but we'll have to wait and see how that pans out. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.
Fiat 500 Lego Ideas kit is super cool and close to production
Mon, Jun 4 2018Back in 2016, we highlighted an awesome Lego Fiat 500 model that was submitted to the Lego Ideas website. The website, for those of you unfamiliar, is where Lego fans can submit their creations to potentially become production kits that other people could buy. That kit was still in the early stages of hitting 10,000 supporters, the number needed to officially be considered by Lego. We have learned that the kit is now really close to hitting the goal. It has reached 8,255 supporters at the time of writing, and it has 139 days remaining to hit the goal. It's worth supporting, too, if you haven't. We felt that way when we first wrote about it. We were impressed by its opening doors, hood, trunk lid and sunroof. Plus, it's full of cool little details such as windshield wipers, a spare tire under the hood, a little rendition of the 500's already small engine in the back, and a nicely detailed interior. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We're also impressed at how the creators, Felix Stiessen and Gabriele Zannotti, have been refining the model since we last saw it. It now has clear bricks to form a solid windshield, and there are a number of areas in which the model has been smoothed out and cleaned up. The car's front and roof are key examples. The bumper is now rounded at the corners, and the hood takes advantage of more curved pieces that slope forward for a rounder look. If you want the chance to get one of these 500 kits yourself, definitely go to the Lego Ideas website, sign up, and hit the support button. It doesn't cost anything, and you can find other neat kits to support. There's a very real possibility of the kit reaching production, too. A really cool Lego Caterham kit that garnered enough support on Lego Ideas was approved for production back in 2016, and it's still available for purchase at the Lego website for $79.99. Related Video: Featured Gallery Lego Fiat 500 Image Credit: Felix Stiessen and Gabriele Zannotti Toys/Games Fiat Hatchback Classics Lego