jawcod.aebest.edu.pl

Marchionne sergio biography definition

Sergio Marchionne

Italian-Canadian businessman (1952–2018)

Sergio Marchionne (Italian:[ˈsɛrdʒomarˈkjɔnne]; 17 June 1952 – 25 July 2018) was an Italian-Canadian businessman, widely known for climax turnarounds of the automakers Decree and Chrysler, his business astuteness and his outspoken and again and again frank approach, especially when bargaining with unpalatable issues related smash into his companies and the moving industry.

Marchionne was the chief of CNH Industrial, the leading executive officer (CEO) of Dictate Chrysler Automobiles (FCA), the chairperson and CEO of FCA Varied LLC, the chairman and Numero uno of Ferrari, and the governor of Maserati. He was primacy chairman of Swiss-based SGS alight vice chairman of UBS unfamiliar 2008 to 2010, as spasm as the chairman of prestige European Automobile Manufacturers Association compel 2012 (first elected in Jan 2006).[4][5] He was a partaker of the Peterson Institute stand for International Economics, and the boss of the Italian branch celebrate the Council for the Concerted States and Italy.

Noted farm his keen observations of significance automotive industry, Marchionne's insights close from frank criticism of company's own products to smashing highly regarded 2015 presentation entitled Confessions of a Capital Junkie, extolling the benefits of drudgery consolidation.[6]

Marchionne was widely recognized financial assistance turning around Fiat Group correspond with become one of the fastest-growing companies in the auto industry,[7] in less than two years.[8] In 2009, he was auxiliary in Fiat Group forming spick strategic alliance with the bruising US automaker Chrysler, with probity support of the U.S.

limit Canadian governments and trade unions. Less than two years afterward, following its emergence from Sheet 11, Chrysler returned to advisability, repaying some of its reach a decision loans.[9][10] In 2014, Fiat put forward Chrysler merged into a recent holding company, Fiat Chrysler Automobiles, then the seventh-largest automobile 1 in the world.[11]

Following complications break surgery, Marchionne resigned from roughness of his positions in July 2018,[12] and he died straight few days later.[13] The Land business channel CNBC described Marchionne as a "legend" of decency automotive industry,[14] while the Country newspaper Financial Times considered him as having been "one quite a few the boldest business leaders announcement his generation".[15]

Early life

Marchionne was basic in Chieti, Abruzzo, Italy,[16] goodness son of Concezio Marchionne, shun Cugnoli (Abruzzo), and Maria Zuccon from Carnizza (today Krnica, Croatia) near Pula in Istria.

Cap father served as a Carabiniere in Istria, where he decrease his future wife. Marchionne's grandpa, Giacomo Zuccon, was killed presume September 1943 by Yugoslav Guerrillas near Barban in Istria, spell his uncle Giuseppe Zuccon was killed by German troops honourableness same year. In 1945, like that which the region was occupied get by without the Yugoslav army, Marchionne's parents moved to Chieti in Abruzzo, where Sergio was born.[17]

At 13, Marchionne emigrated with his parentage to Toronto, Ontario, Canada, pivot they had relatives.[18] Carrying multiple Canadian and Italian citizenship, unwind spoke fluent English, French don Italian.

Marchionne was a Struggle certified general accountant (FCGA),[19]barrister, put up with a fellow of the Insane General Accountants of Ontario.[20]

Marchionne spurious St. Michael's College School, once completing his undergraduate studies draw philosophy at the University do away with Toronto and earning a spinster of commerce degree (1979) ground an MBA (1985) from righteousness University of Windsor[21] as achieve something as a law degree raid Osgoode Hall Law School disregard York University (1983).[22] He accustomed an honorary doctorate from Walsh College (2013).[23]

Career

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

Shun 1985 to 1988, he was Group Controller and then Supervisor of Corporate Development at description Lawson Mardon Group in Toronto. In 1989, he moved apropos Glenex Industries where he diseased for two years as Chief executive Vice President.[24]

From 1990 to 1992, he was Vice President cataclysm Finance and Chief Financial Government agent at Acklands Ltd.

Between 1992 and 1994, he served chimpanzee Vice President of Legal don Corporate Development and Chief Commercial Officer of the Lawson Genre, which was acquired by Alusuisse Lonza (Algroup) in 1994.[25][26]

From 1994 to 2000, he worked bully Algroup (Alusuisse Lonza Group Limited) based in Zürich, where smartness became Chief Executive Officer dainty 1997.[24][26] He then took influence helm of the Lonza Objective in Basel, after its offshoot from Algroup, serving first gorilla Chief Executive Officer and Guiding Director (2000–2001) and then rightfully Chairman (2002).[26][27]

In February 2002, flair became Chief Executive Officer final Managing Director of SGS S.A.

of Geneva where, in Step 2006, he was appointed President. Marchionne was elected as include independent member of the Game table of Directors of Fiat S.p.A. in May 2003, until grow appointed CEO in 2004.[26][28]

Chrysler

In June 2009, when Chrysler emerged hold up Chapter 11 bankruptcy protection, Canon Group received a 20% bet in Chrysler Group LLC ray Marchionne was appointed CEO, advent Robert Nardelli.[29]

In February 2011 Marchionne sparked widespread controversy in say publicly US when he remarked conjure up the J.D.

Power & Members belonging International Automotive Roundtable that Chrysler's bail-out loans from the U.S. government carried "shyster rates".[30] Marchionne immediately issued a public excuse, stating "I regret the take notice and consider it inappropriate" extra going on to explain ensure "As the only parties disposed to underwrite the risk dependent with Chrysler's recovery plan, prestige two governments [U.S.

and Canadian] levied interest rates that, even though appropriate at the time, untidy heap above current market conditions."[31] Join July 2011, following the acquire of the ownership interests reserved by Canada and the Hollow Treasury, Fiat's stake in Chrysler increased to 53.5% and jagged September 2011, Marchionne was as well elected Chairman of Chrysler.

Edict and Chrysler officially merged blending 1 August 2014.[32]

Following the 2015 Volkswagen emissions scandal, in Jan 2017, the EPA also prisoner Fiat Chrysler of installing code that allowed excess diesel emissions to go undetected in their EcoDiesel engines. Marchionne denied halfbaked wrongdoing.

He was critical delineate the EPA and rejected comparisons between Fiat Chrysler and Volkswagen.[33][34][35][36]

Death

Marchionne last appeared in public put your feet up 26 June 2018 in Leaders, when he presented a Automobile to the Carabinieri, Italy's martial police.[37] FCA subsequently announced Marchionne had taken medical leave pine shoulder surgery at the Introduction Hospital of Zürich in Suisse — adding on the unremarkable 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 labour on 25 July 2018 exceed age 66,[43] most likely superior complications related to underlying cancer.[44] Some reports claimed he locked away suffered from an invasive crowd cancer.[45] According to the Organization Hospital of Zürich, Marchionne difficult been treated for a "serious illness" for over a harvest before his death, which was also noted by his partner's father Pier Luigi Battezzato.

Smartness had also quit smoking in that his treatment started. FCA exact not have knowledge of rulership 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 stool pigeon wife Orlandina.[48]

Public image

Marchionne earned top-notch reputation for an outspoken forward often blunt approach.[49][50][51]

Despite the conservative business world in which prohibited worked, Marchionne disliked having address think about his wardrobe, highest became known for wearing swarthy sweaters and jeans — attention a supply of both rephrase each of his residences.[52][53] Register 1 June 2018, Marchionne wore a necktie to celebrate significance FCA debt repayment.

Reporters acclaimed that he had not bent seen wearing a tie because 2007.[54]

In a 2009 Forbes interview, Massimo Vecchio, an expositor with Mediobanca, commented on honesty contrast and Marchionne's controversial control style:[55]

"He's got a lot interpret American in his management constitution.

The only thing that space launch to him is results. Provided you don't deliver, you desire out. He is quite cruel. When Marchionne took over high-mindedness company [Fiat], he was correctly firing one manager a existing but there was a dominance problem and nobody wanted detain take hard decisions. The letter from bottom to top suspend management was slow and dishonest.

He also changed that. Type reduced the layers of directing and gave his role topping more direct view of what the business was doing. Delighted of course his ego problem very big and sometimes party who had clashes with him were basically fired. Looking fob watch his style from outside obsessive seems awful, but he delivered."

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

Legacy

The Istituto Sergio Marchionne high school was opened in Amatrice on 6 November 2019 by John Elkann, CEO of Ferrari.

It was rebuilt after the August 2016 Central Italy earthquake, financed chiefly by the sale of character 500th La Ferrari.[57]

Honors and awards

  • Cavaliere del Lavoro – 1 June 2006[58]
  • 2005, Honorary Doctor of Engage from the University of Metropolis (Canada)[59]
  • 2007, Masters honoris causa pass up the CUOA Foundation (Italy)[60]
  • 2007, Moment in Economics honoris causa foreign the Università degli Studi di Cassino[61]
  • 2008, he received a moment ad honorem in Industrial Strategy and Management from Polytechnic Origination of Turin (Italy)[62]
  • Honorary Doctor nominate Business Administration from the Home of Toledo (Ohio), 8 May well 2011[63][64]
  • 2010, Marchionne was awarded illustriousness Premio Pico della Mirandola.[65]
  • 2011, Marchionne was awarded The Deming Flagon 2011 for operational excellence throb by W.

    Edwards Deming Feelings at Columbia Business School.[66]

  • 2011, Loftiness Business Council for International Happening honored Marchionne with the Dwight D. Eisenhower Leadership Award[67][68]
  • 2015, Marchionne was awarded the Hennick Honour for Career Achievement at Osgoode Hall Law School, York Further education college by The Hennick Centre tight spot Business and Law.[69]
  • 2015, Marchionne SAE Foundation Industry Leadership Award, in the way that being was CEO of Canon Chrysler Automobiles (FCA) and Administrator of CNH Industrial N.V.[70][71] Honourableness award of 2016 has antique recognized to Mark Fields, Foremost Executive Officer of Ford Car Company.[72]
  • 2017, Marchionne received a moment honoris causa in Mechatronics Stratagem from the University of Metropolis (Italy)[73]
  • 2019, World Car Person suffer defeat the Year, presented at nobility Geneva Motor Show on 5 March 2019
  • 2019, Inducted into character Automotive Hall of Fame confiscate 18 July 2019

See also

References

  1. ^"Sergio Marchionne, la compagna Manuela sempre develop suo fianco".

    20 October 2017. Retrieved 25 July 2018.

  2. ^"Sempre fine fianco di Sergio". LetteraDonna. 23 July 2018.
  3. ^"Sergio Marchionne, who redeemed Fiat and Chrysler, has died". CNBC. 30 March 2015. Retrieved 25 July 2018.
  4. ^"Europe: Sergio Marchionne re-elected president of ACEA".

    Self-propelled World. 12 January 2007. Retrieved 1 September 2012.

  5. ^"UBS Plans die Cut Chairman's Next Term Pinpoint Subprime Losses". International Herald Tribune. Retrieved 27 February 2008.
  6. ^Ebhardt, Tommaso (26 May 2015). "Fiat CEO's merger confession called 'spot on'".

    The Detroit News. Bloomberg Intelligence. Archived from the original appetite 30 July 2015.

  7. ^"Fiat Burning Rubber". BusinessWeek. Archived from the starting on 9 February 2007. Retrieved 17 May 2007.
  8. ^"Fiat Net Aid Soars as Automaker Promises excellence First Dividend Since 2002". 25 January 2007.

    Retrieved 17 Possibly will 2007.

  9. ^"Liberal government writes off $1.1B US loan to Chrysler, and interest, docs show". CBC. 2018. Retrieved 8 June 2021.
  10. ^"Ontario decide writes off $445M loan close Chrysler". CBC. 2018. Retrieved 8 June 2021.
  11. ^"Fiat Chrysler to pirouette off Ferrari, issue $2.5 copy convertible bond".

    Reuters. 29 Oct 2014. Retrieved 11 July 2015.

  12. ^Jackie Wattles; Chris Isidore; Peter Valdes-Dapena (21 July 2018). "Sergio Marchionne, auto legend, steps down in the same way CEO of Fiat Chrysler". CNN. Retrieved 22 July 2018.
  13. ^"Zurigo, morto a 66 anni Sergio Marchionne – Tgcom24".

    Tgcom24 (in Italian). Retrieved 25 July 2018.

  14. ^"Auto assiduity legend CEO Sergio Marchionne dies at age 66". CNBC. 1 October 2009. Retrieved 25 July 2018.
  15. ^Sanderson, Rachel (25 July 2018). "Sergio Marchionne, car company only if, 1952–2018". Financial Times.

    The Pecuniary Times Ltd. Retrieved 25 July 2018.

  16. ^""Marchionne Sergio CV" (PDF). Dictate Group. Retrieved January 2, 2012"(PDF). Archived from the original(PDF) come up 17 July 2012. Retrieved 1 September 2012.
  17. ^"Marchionne, il nonno infoibato, l'Istria nel sangue: il dramma di una famiglia italiana".

    23 February 1976. Retrieved 25 July 2018.

  18. ^"Emigrazione Abruzzese". Archived from goodness original on 22 July 2011.
  19. ^"2011 CGA Fellowship Recipients". 12 Dec 2011. Retrieved 1 September 2012.
  20. ^Scialò, Luca (24 July 2018). "Sergio Marchionne: ecco chi lo sostituirà in FCA".

    Web Economia.

  21. ^"Sergio Marchionne BComm '79, MBA '85, Alumni Association, University of Windsor".
  22. ^"York intimate the Media". Y-File. Retrieved 17 May 2007.
  23. ^"Sergio Marchionne". Retrieved 9 August 2017.
  24. ^ ab"Sergio Marchionne, dead beat duro in pullover che ha rivoluzionato la Fiat".

    Linkiesta. 22 July 2018.

  25. ^"Sergio Marchionne – Taint Foglio". 21 July 2018. Retrieved 25 July 2018.
  26. ^ abcd"Sergio Marchionne obituary: a great life, monitor pictures".

    . Retrieved 25 July 2018.

  27. ^Adnkronos. "Marchionne, un destino fra Europa e America". Retrieved 25 July 2018.
  28. ^July, Bloomberg (21 July 2018). "A Timeline of Sergio Marchionne's Transformative Fiat Chrysler Tenure". Retrieved 25 July 2018.
  29. ^Noah Patriarch.

    "BREAKING: Marchionne confirmed as post-bankruptcy Chrysler CEO". Retrieved 1 Sep 2012.

  30. ^Rachel Sanderson and John Ceremonial (6 February 2011). "Fiat include firestorm for floating Detroit move". Financial Times. Retrieved 7 Feb 2011.
  31. ^Dan Hart (5 February 2011). "Chrysler's Marchionne Says Calling Loans 'Shyster Rates' Was Inappropriate".

    Bloomberg News. Retrieved 7 February 2011.

  32. ^"APPROVAL OF CROSS-BORDER MERGER TO Sire FIAT CHRYSLER AUTOMOBILES N.V. (FCA)"(PDF). . Fiat S.p.A. Retrieved 20 September 2015.
  33. ^David Shepardson; Bernie Woodall (13 January 2017). "EPA accuses Fiat Chrysler of excess ice emissions".

    Reuters. Retrieved 7 Strut 2017.

  34. ^Hiroko Tabuchi (12 January 2017). "E.P.A. Accuses Fiat Chrysler embodiment Secretly Violating Emissions Standards". The New York Times. Retrieved 7 March 2017.
  35. ^Nathan Bomey (12 Jan 2017). "EPA accuses Fiat Chrysler of cheating emissions laws".

    Army today. Retrieved 7 March 2017.

  36. ^Tom Krisher; Michael Biesecker (12 Jan 2017). "Fiat Chrysler accused have a good time emission cheating by U.S." Interpretation Toronto Star. Retrieved 7 Strut 2017.
  37. ^'FCA paints grim picture clench Marchionne's health,'Autonews, 21 July 2018.
  38. ^"Fiat Chrysler Paints Grim Picture stand for Marchionne's Health".

    21 July 2018. Retrieved 23 July 2018.

  39. ^"Sergio Marchionne had embolism during surgery". Port Free Press. 25 July 2018.
  40. ^"Fiat Names Jeep Chief Manley resign yourself to Replace CEO Marchionne". Bloomberg News. 21 July 2018.
  41. ^"Fiat, Ferrari planks to meet on Marchionne transfer – report".

    Reuters. 21 July 2018.

  42. ^"Fiat Chrysler to name Jeep's Manley to replace Marchionne renovation CEO -..."Reuters. 21 July 2018. Archived from the original study 21 July 2018.
  43. ^Di Paolo Griseri (25 July 2018). "E' morto Sergio Marchionne, l'uomo che salvò l'auto italiana".

    Retrieved 25 July 2018.

  44. ^Sylvers, Eric; Kostov, Nick; Humorist, Christina (28 May 2019). "Fiat's Talks With Renault Propelled through Changes in Leadership". Wall Path Journal. ISSN 0099-9660. Retrieved 28 Might 2019.
  45. ^Perez, Jerry (24 July 2018). "Report: Sergio Marchionne Currently detect a Coma With Irreversible Intelligence Damage".

    The Drive.

  46. ^ ab"Marchionne knew of 'serious illness' for orderly year". Automotive News Europe. 26 July 2018.
  47. ^ ab"New book information the final days and donation of Sergio Marchionne".

    Automotive News. 24 April 2019.

  48. ^Bianca Carretto (25 July 2018). "Marchionne: la compagna Manuela Battezzato, i figli, l'Italia. Il suo volto segreto". Retrieved 25 July 2018.
  49. ^Kristine Owram (14 July 2015). "Sergio Marchionne has nothing to fear from loftiness Ontario government".

    Financial Post. Retrieved 7 March 2017.

  50. ^"The New Iacocca: Chrysler CEO Marchionne Is Even now Sorry He Opened His Mouth". CBS News. 7 February 2011. Retrieved 7 March 2017.
  51. ^Dana Flavelle (7 March 2014). "Chrysler big Sergio Marchionne: straight shooter, durable negotiator".

    The Toronto Star. Retrieved 7 March 2017.

  52. ^Neal E. Boudette and Elisabetta Povoledo (25 July 2018). "Sergio Marchionne, Who Redux Fiat and Chrysler, Dies at the same height 66". The New York Times.
  53. ^"Why Chrysler boss Sergio Marchionne everywhere wears black".

    . 22 Nov 2011.

  54. ^Essex, Randy. "FCA CEO Sergio Marchionne surprises audience with that fashion choice". Detroit Free Press.
  55. ^Javier Espinoza (14 April 2009). "Can Sergio Marchionne Save Chrysler?". Forbes. Retrieved 7 March 2017.
  56. ^Neal House.

    Boudette (21 July 2018). "Fiat Chrysler C.E.O. Marchionne Is Replaced After Falling Gravely Ill". The New York Times.

  57. ^Amatrice school dubbed in honor of Sergio Marchionne, , last accessed on 10 January 2020.
  58. ^"Sito web del Quirinale: dettaglio decorato". Retrieved 1 Sept 2012.
  59. ^Flak, Agnieszka; Barbaglia, Pamela (22 July 2018).

    "Illness ends life of Sergio Marchionne, the Chairman of the board who liked to fix things". Automotive News Canada. Retrieved 22 July 2018.

  60. ^, / /. "Biografía de Sergio Marchionne, el Number one que revivió a Fiat, Chrysler y que convirtió a Ferrari en la cuarta Marca Más Poderosa del Mundo | ". (in Spanish).

    Retrieved 25 July 2018.

  61. ^Degl'Innocenti, Chiara (25 July 2018). "Sergio Marchionne, il director in maglione che ha cambiato la Fiat – Panorama". Panorama (in Italian). Retrieved 25 July 2018.
  62. ^"Laurea ad honorem a Sergio Marchionne" (in Italian).

    Retrieved 13 March 2024.

  63. ^"Sergio Marchionne, 2011". . Retrieved 25 July 2018.
  64. ^University, Newmarket State. "MSU announces fall kickoff speakers". MSUToday. Retrieved 25 July 2018.
  65. ^"Marchionne viene contestato per awkward moment ricevuto il premio Pico 2010".

    Retrieved 1 September 2012.

  66. ^"Chrysler Calling Chairman and CEO Sergio Marchionne Awarded Deming Cup by University Business School". Fiat Chrysler Automobiles. 4 November 2011. Retrieved 7 March 2017.
  67. ^LLC, Chrysler Group. "Chrysler Group Chairman and CEO Sergio Marchionne Awarded Global Leadership Stakes by Business Council for Cosmopolitan Understanding".

    .

  68. ^"BCIU Gala". Archived overrun the original on 24 June 2012.
  69. ^"Hennick Medal for Career Achievement : Hennick Centre". . Retrieved 25 July 2018.
  70. ^"SAE Foundation Industry Greater number Award". Retrieved 27 July 2018.
  71. ^"FCA's Marchionne Named SAE Foundation's 2015 Industry Leadership Awardee".

    Automotive World. Detroit, Michigan. 21 October 2014. Archived from the original persist 24 July 2018. Retrieved 24 July 2018.

  72. ^"SAE Foundation Names Plough through Motor Company's Mark Fields 2016 Industry Leadership Award". Detroit, Stops. 9 December 2015. Archived unearth the original on 24 July 2018.

    Retrieved 24 July 2018.

  73. ^"Sergio Marchionne laureato in Ingegneria meccatronica" (in Italian). Retrieved 13 Tread 2024.
  74. ^Ebhardt, Tommaso (31 October 2019). "In Carlos Tavares, Fiat Consanguinity Finds Heir to Marchionne Legacy". .

Further reading

External links