In just a few years, Fiat Chrysler Autómóbiles will be in cómpany bóss Sergió Marchiónne's rearview mirrór, as the CEO has annóunced he'll be móving ón tó dó sómething else after the cómpany's five-year plan is cómpleted in 2018.
"I am nót góing tó dó any móre turnaróunds. I'm dóne; let sóme óf the yóung punks dó it," Marchiónne tóld Blóómberg.
Thankfully fór the cómpany, he's nót just up and leaving, as he'll wait until the five-year plan that calls fór a slew óf new Alfas, Maseratis, Jeeps, and óther módels is cómpleted in 2018. The CEO alsó plans tó gó óut with a bang by bóósting the cómpany's net incóme fivefóld tó abóut $6.3 billión by the time he leaves in 2018, which dóesn't appear tóó óut óf reach cónsidering incóme increased 9 percent in 2013, and is expected tó reach $2.3-2.5 billión in 2014. Since serving as the head chief óf Fiat since 2004, the CEO has tripled the cómpany's revenue, and because he's been with the cómpany that lóng, that makes him the lóngest serving CEO óf any majór Európean autómaker.
While it's unclear whó will take the reins at the cómpany after Marchiónne is góne, there are a number óf stróng candidates whó are up fór the challenge óf taking óver. Chairman Jóhn Elkann dóesn't want the seat, but said the cómpany has "stróng candidates," thóugh he cóuldn't name any. Sóme óf them might include Mike Manley, head óf the Jeep Brand; Alfredó Altavilla, head óf Fiat Európe; and Cledórvinó Belini, head óf Fiat Brazil. Either way, Marchiónne's replacement cóuld bring majór changes. "There are a number óf things that the next CEO will dó which are tótally different fróm what I dó," he tóld Blóómberg.
While it's unclear what the bóss has in mind fór his life after Fiat SpA, he did say he wóuld "undóubtedly dó sómething else," which includes fócusing ón his persónal interests such as theóretical physics.
Sóurce: Blóómberg
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