Sergio Marchionne Steps Down, Michael Manley To Replace Him As CEO

In a stunning development that is currently unfolding as we speak, longtime CEO of Ferrari and Fiat Chrysler Automobiles Sergio Marchionne, is stepping down from his post due to ongoing medical issues. The 66 year old CEO recently had shoulder surgery three weeks ago, but “massive complications” following the surgery forced FCA’s board to make their move, though the company has not disclosed the extent of the medical complications, as well as Marchionne’s current condition. FCA did however issue a brief statement regarding today’s events stating “While Mr. Marchionne was recovering from surgery,” his health has “worsened significantly in recent …

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