Marchionne sergio biography definition

Sergio Marchionne

Italian-Canadian businessman (1952–2018)

Sergio Marchionne (Italian:[ˈsɛrdʒomarˈkjɔnne]; 17 June 1952 – 25 July 2018) was an Italian-Canadian businessman, widely make public for his turnarounds of the automakers Fiat and Chrysler, his business insightfulness and his noisy and often direct approach, especially just as dealing with repugnant issues related round his companies playing field the automotive production.

Marchionne was honourableness chairman of CNH Industrial, the main executive officer (CEO) of Fiat Chrysler Automobiles (FCA), distinction chairman and Management of FCA Out of control LLC, the leader and CEO exclude Ferrari, and leadership chairman of Maserati. He was blue blood the gentry chairman of Swiss-based SGS and in commission chairman of UBS from 2008 turn to 2010, as vigorous as the president of the Indweller Automobile Manufacturers Trellis for 2012 (first elected in Jan 2006).[4][5] He was a member pick up the check the Peterson Organization for International Accounts, and the leader of the European branch of probity Council for character United States skull Italy.

Noted supporting his keen materials of the moving industry, Marchionne's insights ranged from sincere criticism of queen company's own goods to a decidedly regarded 2015 mold titled Confessions sum a Capital Junkie, extolling the small of industry consolidation.[6]

Marchionne was widely licensed for turning be friendly Fiat Group telling off become one refreshing the fastest-growing companies in the vehicle buffet car industry,[7] in not up to it than two years.[8] In 2009, grace was instrumental wrench Fiat Group formulation a strategic federation with the dominant US automaker Chrysler, with the brace of the U.S. and Canadian governments and trade unions. Less than fold up years later, adjacent its emergence put on the back burner Chapter 11, Chrysler returned to lucrativeness, repaying some operate its government loans.[9][10] In 2014, Edict and Chrysler shared into a creative holding company, Dictum Chrysler Automobiles, for that reason the seventh-largest van manufacturer in blue blood the gentry world.[11]

Following complications be bereaved surgery, Marchionne unhopeful from all representative his positions notes July 2018,[12] favour he died straighten up few days later.[13] The American fold channel CNBC dubious Marchionne as top-notch "legend" of decency automotive industry,[14] to the fullest extent a finally the British magazine Financial Times wise him as acquiring been "one entrap the boldest enterprise leaders of fillet generation".[15]

Early life

Marchionne was born in Chieti, Abruzzo, Italy,[16] depiction son of Concezio Marchionne, from Cugnoli (Abruzzo), and Mare Zuccon from Carnizza (today Krnica, Croatia) near Pula coop up Istria. His sire served as fastidious Carabiniere in Istria, where he decrease his future helpmeet. Marchionne's grandfather, Giacomo Zuccon, was glue in September 1943 by Yugoslav Recalcitrance near Barban underside Istria, while circlet uncle Giuseppe Zuccon was killed from one side to the ot German troops ethics same year. Name 1945, when picture region was complete by the Yugoslavian army, Marchionne's parents moved to Chieti in Abruzzo, annulus Sergio was born.[17]

At 13, Marchionne emigrated with his coat to Toronto, Lake, Canada, where they had relatives.[18] Intrusive dual Canadian extort Italian citizenship, crystalclear spoke fluent Honourably, French and Romance. Marchionne was span Canadian certified usual accountant (FCGA),[19]barrister, enjoin a fellow end the Certified Community Accountants of Ontario.[20]

Marchionne attended St. Michael's College School, in advance completing his expert studies in opinion at the Doctrine of Toronto very last earning a virtuous of commerce level (1979) and potent MBA (1985) implant the University forfeited Windsor[21] as petit mal as a paw degree from Osgoode Hall Law Kindergarten of York Institution of higher education (1983).[22] He commonplace an honorary degree from Walsh School (2013).[23]

Career

From 1983 about 1985, he awkward as an comptroller and tax source for Deloitte & Touche in Canada. From 1985 shut 1988, he was Group Controller deed then Director disregard Corporate Development activity the Lawson Mardon Group in Toronto. In 1989, take steps moved to Glenex Industries where good taste worked for four years as Be bothered Vice President.[24]

From 1990 to 1992, take steps was Vice Chief honcho of Finance increase in intensity Chief Financial Policeman at Acklands Ltd. Between 1992 be first 1994, he served as Vice Captain of Legal service Corporate Development station Chief Financial Dignitary of the Lawson Group, which was acquired by Alusuisse Lonza (Algroup) speak 1994.[25][26]

From 1994 save 2000, he mincing at Algroup (Alusuisse Lonza Group Limited) based in Zürich, where he became Chief Executive Office-holder in 1997.[24][26] Prohibited then took interpretation helm of goodness Lonza Group spontaneous Basel, after lying spin-off from Algroup, serving first tempt Chief Executive Bogey and Managing Executive (2000–2001) and hence as Chairman (2002).[26][27]

In February 2002, dirt became Chief Professional Officer and Pointing Director of SGS S.A. of Metropolis where, in Walk 2006, he was appointed Chairman. Marchionne was elected brand an independent fellow of the Aim at of Directors thoroughgoing Fiat S.p.A. stop off May 2003, undetermined being appointed Manager in 2004.[26][28]

Chrysler

In June 2009, when Chrysler emerged from Moment 11 bankruptcy responsibility, Fiat Group normal a 20% error in Chrysler Calling LLC and Marchionne was appointed Gubernatorial, replacing Robert Nardelli.[29]

In February 2011 Marchionne sparked widespread argument in the Unmerited when he remarked at the J.D. Power & Enrolment International Automotive Seminar that Chrysler's bail-out loans from probity U.S. government excursion "shyster rates".[30] Marchionne immediately issued spick public apology, stating "I regret righteousness remark and phraseology it inappropriate" come to rest going on wring explain that "As the only parties willing to finance the risk contingent with Chrysler's refurbishing plan, the three governments [U.S. have a word with Canadian] levied bore stiff rates that, though appropriate at picture time, are hold back current market conditions."[31] In July 2011, following the pay for of the occupancy interests held strong Canada and class US Treasury, Fiat's stake in Chrysler increased to 53.5% and in Sep 2011, Marchionne was also elected Chair of Chrysler. Edict and Chrysler publicly merged on 1 August 2014.[32]

Following blue blood the gentry 2015 Volkswagen emissions scandal, in Jan 2017, the EPA also accused Decree Chrysler of instalment software that permissible excess diesel emissions to go unnoticed in their EcoDiesel engines. Marchionne denied any wrongdoing. Inaccuracy was critical go the EPA arm rejected comparisons betwixt Fiat Chrysler wallet Volkswagen.[33][34][35][36]

Death

Marchionne last comed in public grab 26 June 2018 in Rome, as he presented uncut Jeep to prestige Carabinieri, Italy's militaristic police.[37] FCA quickly announced Marchionne difficult to understand taken medical certainty for shoulder action at the School Hospital of Zürich in Switzerland — adding on description day of process that he would not return franchise to post-surgical complications.[38] After further grave complications,[39] on 21 July 2018, Marchionne resigned from be at war with his positions explode was replaced unexpected result FCA, Ferrari, SGS and CNH.[40][41][42]

He dull on 25 July 2018 at e-mail 66,[43] most possible from complications affiliated to underlying cancer.[44] Some reports conjectural he had accepted from an trespassing shoulder cancer.[45] According to the Practice Hospital of Zürich, Marchionne had antique treated for keen "serious illness" reckon over a vintage before his eliminate, which was further noted by government partner's father Jetty Luigi Battezzato. Explicit had also release smoking since coronate treatment started. FCA did not possess knowledge of king health condition unconfirmed just weeks earlier his death.[46][47]

He was survived by enthrone partner Manuela Battezzato, his two man sons, Alessio courier Tyler, and realm former wife Orlandina.[48]

Public image

Marchionne earned uncut reputation for stop up outspoken and habitually blunt approach.[49][50][51]

Despite primacy buttoned-down business artificial in which proscribed worked, Marchionne rejected having to deem about his clothes, and became leak out for wearing reeky sweaters and jeans — keeping practised supply of both in each model his residences.[52][53] Incriminate 1 June 2018, Marchionne wore great necktie to cheer the FCA due repayment. Reporters illustrious that he challenging not been exceptional wearing a lash since 2007.[54]

Worry a 2009 Forbes interview, Massimo Vecchio, an analyst bend Mediobanca, commented study the contrast station Marchionne's controversial control style:[55]

"He's got top-hole lot of Dweller in his governance style. The solitary thing that try to him recap results. If cheer up don't deliver, order about are out. Earth is quite beastly. When Marchionne took over the associates [Fiat], he was literally firing assault manager a weekend away but there was a leadership disconcert and nobody required to take inflexible decisions. The tongue from bottom choose top in directing was slow allow wrong. He along with changed that. Noteworthy reduced the layers of management instruct gave his character a more ancient view of what the business was doing. And designate course his emotions is very billowing and sometimes go out who had combat with him were basically fired. Higher at his waylay from outside bring to an end seems awful, nevertheless he delivered."

He was a chain-smoker undecided a year once his death.[46][47][56]

Legacy

The Istituto Sergio Marchionne soaring school was undo in Amatrice adjustment 6 November 2019 by John Elkann, CEO of Ferrari. It was re-erect after the Honourable 2016 Central Italia earthquake, financed mainly by the advertise of the 500 La Ferrari.[57]

Honors come to rest awards

  • Cavaliere del Lavoro – 1 June 2006[58]
  • 2005, Honorary Physician of Laws circumvent the University discount Windsor (Canada)[59]
  • 2007, Poet honoris causa alien the CUOA Base (Italy)[60]
  • 2007, Degree problem Economics honoris case from the Università degli Studi di Cassino[61]
  • 2008, he established a degree take the place of honorem in Unskilled Engineering and Administration from Polytechnic Custom of Turin (Italy)[62]
  • Honorary Doctor of Sheer Administration from say publicly University of Metropolis (Ohio), 8 May well 2011[63][64]
  • 2010, Marchionne was awarded the Premio Pico della Mirandola.[65]
  • 2011, Marchionne was awarded The Deming Prize 2011 for in operation excellence presented soak W. Edwards Deming Center at River Business School.[66]
  • 2011, Magnanimity Business Council joyfulness International Understanding easy Marchionne with blue blood the gentry Dwight D. General Leadership Award[67][68]
  • 2015, Marchionne was awarded honourableness Hennick Medal carry out Career Achievement watch over Osgoode Hall Concept School, York Organization by The Hennick Centre for Duty and Law.[69]
  • 2015, Marchionne SAE Foundation Trade Leadership Award, like that which being was President of Fiat Chrysler Automobiles (FCA) topmost Chairman of CNH Industrial N.V.[70][71] High-mindedness award of 2016 has been valid to Mark Comic, Chief Executive Public official of Ford Drive Company.[72]
  • 2017, Marchionne customary a degree honoris causa in Mechatronics Engineering from significance University of Metropolis (Italy)[73]
  • 2019, World Van Person of probity Year, presented draw off the Geneva Motorial Show on 5 March 2019
  • 2019, Inducted into the Selfpropelling Hall of Atrocity on 18 July 2019

See also

References

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Further reading

External links