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Former CEO Sergio Marchionne dies just days after standing down from Ferrari

marchionne-fiat-1024x680.jpg

Former Ferrari CEO Sergio Marchionne has died aged 66, only a few days after standing down from Ferrari due to a shoulder injury. The Italian use to be the CEO of Fiat and was crucial in turning around the company's fortunes, and also saved Chrysler from bankruptcy.

Marchionne was born in Italy but moved to Canada at a young age. He became an accountant and later CEO of Swiss company Algroup. Only a few years into the 21st century, he moved to Fiat, owner of Ferrari. Soon enough he became the CEO of Fiat also, at a time when the company were losing plenty of money. He managed to return the company to recognition, and began to turn in profit.

In 2014 Marchionne stepped into the world of F1, and was now chairman and CEO of the struggling Ferrari, replacing Luca di Montezemolo. Both the F1 team and Ferrari as a company had a sharp increase in fortunes also: the company was now in the New York stock exchange and Sebastian Vettel has been challenging for the Formula 1 championship in a Ferrari.

After qualifying for the German Grand Prix last Saturday it was announced he would be stepping down due to a shoulder injury. His death was announced today this morning, with complications during his surgery. His death was confirmed by John Elkann, who has succeeded him as chairman at Ferrari.
 

Comments

Discussion about: Former CEO Sergio Marchionne dies just days after standing down from Ferrari
VFan17
Staff Team Pit Pass Registered
#2
Very sad news, he has really turned Ferrari into a winning team, along with other great achievements. RIP Sergio, my thoughts are with him, his friends and his family.
 
F1Fan1
Staff Team Pit Pass Registered
#3
I would like to say that I think 66 is a young age to pass. Either he had a major and unrecognised medical problem, or he took is life. I doubt the last one mentioned is the cause of his death.

F1Fan1
 
VFan17
Staff Team Pit Pass Registered
#4
It was a medical problem, that's why he stepped down in the first place
 
JohnH
Registered
#5
This is what I got off another site
"Marchionne suffered a cerebral embolism during his shoulder surgery to remove a painful cancer node. Cerebral embolisms are devastating and never reversible. He went into coma and never woke up as he passed away this morning."
Sad news he did bring Ferrari back to the top step of the podium and got Fiat back to profitability so he did know his job.
 
VFan17
Staff Team Pit Pass Registered
#6
Thanks for confirming it John
 
Brad P
Staff Team Pit Pass Registered
#7
What tragic news, I hadn’t read this until today.
 
F1Fan1
Staff Team Pit Pass Registered
#8
I agree. It is.

F1Fan1