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Marchionne to take his sweater and go home after 2018

The end is in sight for Fiat Chrysler boss Sergio Marchionne, who confirmed in an interview with Bloomberg that once FCA's sweeping five-year plan is completed, he'd be stepping down from his post to "undoubtedly" do something else that didn't involve turning around global corporations. That would mean he should finish up after 2018 if all goes according to plan.
"It's as important to walk away from the table as it is to sit down," Marchionne told Bloomberg.
Marchionne has been at Fiat since June of 2004 and is one of the chief architects behind the Italian company's acquisition of Chrysler. Despite his successes, he does sound quite ready to move beyond the auto industry, rhetorically asking his Bloomberg interviewers if there "are other things I like to do apart from this?"

UPDATED: ‘The auto industry has lost a true giant’

Former Fiat Chrysler Chief Executive Sergio Marchionne, one of the auto industry's most tenacious and respected auto chiefs, has died, succumbing to complications from surgery. Following are some of THE tributes paid to Marchionne:Apple CEO Tim Cook: "Sad to hear of the unexpected passing of Sergio Marchionne, an auto industry visionary and a remarkable leader. Our thoughts are with his family, friends and everyone at Fiat Chrysler."U.S. President Donald Trump: "Sergio Marchionne, who passed away today, was one of the most brilliant & successful car executives since the days of the legendary Henry Ford. It was a great honor for me to get to know Sergio as POTUS, he loved the car industry, and fought hard for it. He will be truly missed!"Canadian Prime Minister Justin Trudeau: "He was a giant in the auto industry, a friend of the Italian-Canadian community, and a visionary in the corporate world. Sergio Marchionne's death is a huge loss, and Sophie and I send our condolences to his family and friends."PSA Group CEO Carlos Tavares: "I am extremely sorry to hear this very sad news and I extend my sincere condolences to the family of Sergio Marchionne. Marchionne's leadership will remain our benchmark in the automotive industry."Aston Martin CEO Andy Palmer: "We are deeply saddened to learn of the passing of Sergio Marchionne. On behalf of all of us at Aston Martin Lagonda, I would like to extend our sincere sympathies and condolences to his family, friends and colleagues at Fiat Chrysler Automobiles."Daimler Chief Executive Dieter Zetsche: "The auto industry has lost a real giant. And many of us have lost a very dear friend: Sergio Marchionne."Gary Jones, United Auto Workers President: "During the industry's dark days of the recession, Chrysler, Dodge, Jeep and RAM were at a perilous point. Working with the UAW members, the FCA rebirth was born when many doubted it would come. As in all labor-management relationships, there were clashes and disagreements." "And when history looks back at his legacy, despite bumps and bruises along the way, in the end, the sun wasn't setting when he left the company, the sun was rising. That will long be remembered."Chase Carey, Chairman and CEO of Formula One motor racing: "He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable.

FCA earnings improve in first quarter

Following on the recent global financial releases from Ford and from General Motors for the first quarter of 2015, FCA is now putting out its own numbers, and things look quite good for the company. The automaker posted adjusted earnings before taxes and interest of $895 million, a 22-percent jump from Q1 2014, and net profits of $103 million, a $296-million boost from last year. Revenue was also up 19 percent to $30 billion. Despite the favorable figures, actual worldwide shipments fell slightly by 2 percent to 1.1 million vehicles. FCA is giving some credit for these strong Q1 results to the automaker's performance in the NAFTA region. Shipments grew 8 percent to 633,000 vehicles, and net revenue jumped a strong 38 percent to $18.1 billion. Adjusted earnings reached $672 million, compared to $425 million in 2014. The company especially praised the Jeep Renegade, Chrysler 200, and Ram 1500 for helping the bottom line. The numbers could have been even higher, but the corporation admitted that "higher warranty and recall costs" partially drug things down. For the full year in 2015, FCA expects to ship between 4.8 and 5 million vehicles worldwide and post up to $5 billion in adjusted earnings. There should be about $1.3 billion in net profit, as well. FCA CLOSED Q1 WITH NET REVENUES OF ˆ26.4 BILLION, UP 19% AND ADJUSTED EBIT AT ˆ800 MILLION, UP 22% 30/04/15 FCA closed Q1 with net revenues of ˆ26.4 billion, up 19% and adjusted EBIT at ˆ800 million, up 22%. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion. Full year guidance confirmed. Worldwide shipments were 1.1 million units, 2% lower than Q1 2014, reflecting strong performance in NAFTA and weak market conditions in LATAM. Jeep's positive performance continued with worldwide shipments up 11% and sales up 22%. Net revenues were up 19% to ˆ26.4 billion (+4% at constant exchange rates, or CER). Adjusted EBIT was ˆ800 million, up ˆ145 million from Q1 2014, with all segments except LATAM posting positive results. The positive impact of foreign exchange translation was offset by negative impacts at a transactional level. Net profit was ˆ92 million, up ˆ265 million compared to the net loss of ˆ173 million in Q1 2014. Net industrial debt was ˆ8.6 billion, up ˆ0.9 billion from year-end mainly due to timing of capital expenditures and working capital seasonality. Liquidity remained strong at ˆ25.2 billion. The Group confirms its full-year guidance.