Fiat Chrysler says it did not know about Marchionnes illness

Fiat Chrysler says it did not know about Marchionnes illness

The hospital said Thursday that Marchionne had received cutting-edge treatment, adding "we deeply regret his death and express our deepest condolences to the family". "Due to serious illness, he had been the recipient of recurring treatment for more than a year", the hospital said in a statement.

On Saturday, FCA named Jeep division head Manley, 54, as head of the world's seventh-largest carmaker, saying the Briton would execute a strategy that Marchionne had outlined in June.

Mr Marchionne, who was also Ferrari's chairman, had led the combined company for more than a decade and planned to step down next year. He was also the lead Chrysler Group executive for the worldwide activities of Chrysler outside of NAFTA, where he was responsible for implementing the co-operation agreements for distribution of Chrysler Group products through Fiat's global distribution network. And after the U.S. company emerged from bankruptcy in June that year, Fiat - and Marchionne - took operational control without having to pay a penny. He let his real satisfaction show in June's presentation when he announced the company had reached zero debt, by donning a tie for the first time in a decade - albeit briefly. The company has not provided details on Marchionne's illness.

Marchionne was due to hand over the CEO reins next year anyway, but that transition was accelerated by the sudden deterioration in his health.

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CultureShift's Amanda LeClaire speaks with Executive Analyst for Autrotrader, Michelle Krebs, about the impact Marchionne's financial contributions had on the city's arts and cultural institutions.

Reports in the Italian media this week suggested that Marchionne was suffering from cancer. Sergio had devoted 14 years of his life to the automobile brand and was also instrumental in bailing the Chrysler group out of bankruptcy in 2010.

A tough negotiator known for getting his way, in 2005 Marchionne forced GM to pay Fiat $2 billion not to exercise an option to sell its auto division to the US carmaker - a move that may not have helped his later merger overtures.

Marchionne was a powerful advocate for the automaker's Italian cars and brands, and said he would not restructure the company to leave a "stump" company in Italy that could not survive.

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