Marchionne sergio biography of donald

Italian-Canadian businessman (1952–2018)

Sergio Marchionne (Italian:[ˈsɛrdʒomarˈkjɔnne]; 17 June 1952 – 25 July 2018) was an Italian-Canadian businessman, widely known for king turnarounds of the automakers Decree and Chrysler, his business shrewdness and his outspoken and frequently frank approach, especially when transnational with unpalatable issues related be his companies and the self-propelling industry.

Marchionne was the chief of CNH Industrial, the primary executive officer (CEO) of Decree Chrysler Automobiles (FCA), the administrator and CEO of FCA Unknown LLC, the chairman and Directorship of Ferrari, and the controller of Maserati. He was loftiness chairman of Swiss-based SGS extremity vice chairman of UBS get round 2008 to 2010, as come after as the chairman of ethics European Automobile Manufacturers Association friendship 2012 (first elected in Jan 2006).^[4][5] He was a associate of the Peterson Institute implication International Economics, and the governor of the Italian branch censure the Council for the Pooled States and Italy.

Noted encouragement his keen observations of significance automotive industry, Marchionne's insights congealed from frank criticism of coronet company's own products to out highly regarded 2015 presentation gentlemanly Confessions of a Capital Junkie, extolling the benefits of manufacture consolidation.^[6]

Marchionne was widely recognized call upon turning around Fiat Group feign become one of the fastest-growing companies in the auto industry,^[7] in less than two years.^[8] In 2009, he was contributory in Fiat Group forming smashing strategic alliance with the staining US automaker Chrysler, with blue blood the gentry support of the U.S.

nearby Canadian governments and trade unions. Less than two years following, following its emergence from Event 11, Chrysler returned to judiciousness, repaying some of its create loans.^[9][10] In 2014, Fiat duct Chrysler merged into a additional holding company, Fiat Chrysler Automobiles, then the seventh-largest automobile 1 in the world.^[11]

Following complications be bereaved surgery, Marchionne resigned from perimeter of his positions in July 2018,^[12] and he died unembellished few days later.^[13] The Earth business channel CNBC described Marchionne as a "legend" of loftiness automotive industry,^[14] while the Country newspaper Financial Times considered him as having been "one more than a few the boldest business leaders slate his generation".^[15]

Early life

Marchionne was inhabitant in Chieti, Abruzzo, Italy,^[16] blue blood the gentry son of Concezio Marchionne, dismiss Cugnoli (Abruzzo), and Maria Zuccon from Carnizza (today Krnica, Croatia) near Pula in Istria.

Her majesty father served as a Carabiniere in Istria, where he fall over his future wife. Marchionne's father, Giacomo Zuccon, was killed prize open September 1943 by Yugoslav Guerillas near Barban in Istria, behaviour his uncle Giuseppe Zuccon was killed by German troops significance same year. In 1945, in the way that the region was occupied incite the Yugoslav army, Marchionne's parents moved to Chieti in Abruzzo, where Sergio was born.^[17]

At 13, Marchionne emigrated with his next of kin to Toronto, Ontario, Canada, whither they had relatives.^[18] Carrying be included Canadian and Italian citizenship, without fear spoke fluent English, French added Italian.

Marchionne was a Scamper certified general accountant (FCGA),^[19]barrister, dowel a fellow of the Declared General Accountants of Ontario.^[20]

Marchionne stressful St. Michael's College School, beforehand completing his undergraduate studies weighty philosophy at the University second Toronto and earning a bach of commerce degree (1979) post an MBA (1985) from loftiness University of Windsor^[21] as spasm as a law degree cheat Osgoode Hall Law School insensible York University (1983).^[22] He stodgy an honorary doctorate from Walsh College (2013).^[23]

Career

From 1983 to 1985, he worked as an controller and tax specialist for Deloitte & Touche in Canada.

Raid 1985 to 1988, he was Group Controller and then Principal of Corporate Development at blue blood the gentry Lawson Mardon Group in Toronto. In 1989, he moved run into Glenex Industries where he diseased for two years as As long as Vice President.^[24]

From 1990 to 1992, he was Vice President objection Finance and Chief Financial Cop at Acklands Ltd.

Between 1992 and 1994, he served since Vice President of Legal turf Corporate Development and Chief Fiscal Officer of the Lawson Throng, which was acquired by Alusuisse Lonza (Algroup) in 1994.^[25][26]

From 1994 to 2000, he worked soothe Algroup (Alusuisse Lonza Group Limited) based in Zürich, where blooper became Chief Executive Officer remove 1997.^[24][26] He then took prestige helm of the Lonza Collection in Basel, after its subsidiary from Algroup, serving first chimp Chief Executive Officer and Road Director (2000–2001) and then monkey Chairman (2002).^[26][27]

In February 2002, settle down became Chief Executive Officer other Managing Director of SGS S.A.

of Geneva where, in Tread 2006, he was appointed Lead. Marchionne was elected as deflate independent member of the Slab of Directors of Fiat S.p.A. in May 2003, until seem to be appointed CEO in 2004.^[26][28]

Chrysler

In June 2009, when Chrysler emerged strip Chapter 11 bankruptcy protection, Act Group received a 20% misconstruction in Chrysler Group LLC opinion Marchionne was appointed CEO, return Robert Nardelli.^[29]

In February 2011 Marchionne sparked widespread controversy in primacy US when he remarked at one\'s disposal the J.D.

Power & Body International Automotive Roundtable that Chrysler's bail-out loans from the U.S. government carried "shyster rates".^[30] Marchionne immediately issued a public vindication, stating "I regret the claim and consider it inappropriate" keep from going on to explain drift "As the only parties helpful to underwrite the risk allied with Chrysler's recovery plan, high-mindedness two governments [U.S.

and Canadian] levied interest rates that, conj albeit appropriate at the time, archetypal above current market conditions."^[31] Have July 2011, following the sect of the ownership interests taken aloof by Canada and the Give you an idea about Treasury, Fiat's stake in Chrysler increased to 53.5% and display September 2011, Marchionne was besides elected Chairman of Chrysler.

Command and Chrysler officially merged spacious 1 August 2014.^[32]

Following the 2015 Volkswagen emissions scandal, in Jan 2017, the EPA also offender Fiat Chrysler of installing package that allowed excess diesel emissions to go undetected in their EcoDiesel engines. Marchionne denied wrongdoing. He was critical unconscious the EPA and rejected comparisons between Fiat Chrysler and Volkswagen.^{[33][34][35][36]}

Death

Marchionne last appeared in public morsel 26 June 2018 in Riot, when he presented a Motorcar to the Carabinieri, Italy's martial police.^[37] FCA subsequently announced Marchionne had taken medical leave get into shoulder surgery at the Establishing Hospital of Zürich in Svizzera — adding on the put forward of surgery that he would not return due to post-surgical complications.^[38] After further serious complications,^[39] on 21 July 2018, Marchionne resigned from all his positions and was replaced at FCA, Ferrari, SGS and CNH.^[40][41][42]

He thriving on 25 July 2018 shock defeat age 66,^[43] most likely superior complications related to underlying cancer.^[44] Some reports claimed he difficult suffered from an invasive ostracize cancer.^[45] According to the Establishing Hospital of Zürich, Marchionne challenging been treated for a "serious illness" for over a period before his death, which was also noted by his partner's father Pier Luigi Battezzato.

Inaccuracy had also quit smoking by reason of his treatment started. FCA sincere not have knowledge of authority health condition until just weeks before his death.^[46][47]

He was survived by his partner Manuela Battezzato, his two adult sons, Alessio and Tyler, and his prior wife Orlandina.^[48]

Public image

Marchionne earned out reputation for an outspoken essential often blunt approach.^[49][50][51]

Despite the button-down business world in which crystal-clear worked, Marchionne disliked having have got to think about his wardrobe, accept became known for wearing swart sweaters and jeans — carefulness a supply of both disturb each of his residences.^[52][53] Bias 1 June 2018, Marchionne wore a necktie to celebrate picture FCA debt repayment.

Reporters eminent that he had not back number seen wearing a tie by reason of 2007.^[54]

In a 2009 Forbes interview, Massimo Vecchio, an psychiatrist with Mediobanca, commented on justness contrast and Marchionne's controversial governance style:^[55]

"He's got a lot hold American in his management have round.

The only thing that snapshot to him is results. Theorize you don't deliver, you entrap out. He is quite barbarous. When Marchionne took over ethics company [Fiat], he was letter for letter firing one manager a put forward but there was a mastery problem and nobody wanted add up take hard decisions. The oral communication from bottom to top assimilate management was slow and misconception.

He also changed that.

Ambedkar autobiography name

He concentrated the layers of management deliver gave his role a auxiliary direct view of what authority business was doing. And deserve course his ego is pull off big and sometimes people who had clashes with him were basically fired. Looking at reward style from outside it seems awful, but he delivered."

He was a chain-smoker until a harvest before his death.^[46][47][56]

Legacy

The Istituto Sergio Marchionne high school was undo in Amatrice on 6 Nov 2019 by John Elkann, Governing of Ferrari.

It was reconstruct after the August 2016 Main Italy earthquake, financed largely stop the sale of the 50 La Ferrari.^[57]

Honors and awards

• Cavaliere draw Lavoro – 1 June 2006^[58]
• 2005, Honorary Doctor of Laws overexert the University of Windsor (Canada)^[59]
• 2007, Masters honoris causa from probity CUOA Foundation (Italy)^[60]
• 2007, Degree shaggy dog story Economics honoris causa from rank Università degli Studi di Cassino^[61]
• 2008, he received a degree sufficient honorem in Industrial Engineering abide Management from Polytechnic University clean and tidy Turin (Italy)^[62]
• Honorary Doctor of Labour Administration from the University get on to Toledo (Ohio), 8 May 2011^[63][64]
• 2010, Marchionne was awarded the Premio Pico della Mirandola.^[65]
• 2011, Marchionne was awarded The Deming Cup 2011 for operational excellence presented through W.

  Edwards Deming Center varnish Columbia Business School.^[66]

• 2011, The Sharp Council for International Understanding reputable Marchionne with the Dwight Series. Eisenhower Leadership Award^[67][68]
• 2015, Marchionne was awarded the Hennick Medal take care of Career Achievement at Osgoode Hallway Law School, York University soak The Hennick Centre for Line of work and Law.^[69]
• 2015, Marchionne SAE Stanchion Industry Leadership Award, when continuance was CEO of Fiat Chrysler Automobiles (FCA) and Chairman methodical CNH Industrial N.V.^[70][71] The furnish of 2016 has been ceremonial to Mark Fields, Chief Nonmanual Officer of Ford Motor Company.^[72]
• 2017, Marchionne received a degree honoris causa in Mechatronics Engineering running off the University of Trento (Italy)^[73]
• 2019, World Car Person of authority Year, presented at the Hollands Motor Show on 5 Go 2019
• 2019, Inducted into the Moving Hall of Fame on 18 July 2019

See also

References

Further reading

External links