"It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice".
"The Board of Directors of FCA, meeting today, firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the Company in these years".
FCA's board of directors met today to accelerate the CEO transition process in response to the news of Marchionne's health complications.
Marchionne had planned to retire as CEO of FCA in 2019, but continue as head of Ferrari until 2021.
His imminent departure will be a blow too for FCA, Marchionne having saved Fiat from near-collapse in the mid-2000s and subsequently being the driving force behind the acquisition of Chrysler.
The announcement, at the end of an urgently convened board meeting, marked the end of the Marchionne era, which included the turnaround of failing Fiat, the takeover of bankrupt US automaker Chrysler and the spinoffs of the heavy machinery and truck maker CNH and supercar maker Ferrari. Former Philip Morris chairman Louis Camilleri is set to take over as Ferrari CEO in the coming days pending shareholder approval.
Sizzling 66 puts charging Tiger in the mix
Tiger Woods and Phil Mickelson each will begin Saturday's round six shots back after shooting even par over the first two days. It grabbed the shaft and smothered it", he said. "I don't think he's very far away from really taking everybody on again".
Marchionne's duties at FCA will be assumed by Mike Manley, who had been running FCA's Jeep division.
Kent-born Manley joined DaimlerChrysler in 2000, taking over as boss of Jeep in 2009.
Marchionne helped navigate FCA through bankruptcy during his 14-year tenure and turn the company's finances back from the brink of collapse.
"It has been my privilege to have had Sergio at my side for all these years", Elkann said in asking for respect for Marchionne's privacy at this time.
A company statement said the decision was made at an urgently convened board meeting Saturday because Marchionne's health had suddenly deteriorated following recent surgery and he "will be unable to return to work". Marchionne managed to take two ailing companies and return them to profitability.
"In an emergency meeting called after Marchionne's health worsened, the Ferrari board also named John Elkann as chairman and gave Camilleri powers to oversee the company's operations", Reuters reported.
The brands want to preserve the exclusivity of their goods and prevent them from falling into the hands of illegal counterfeiters. The Times also reports that Burberry's expensive prices in Asia have contributed to increasingly unsold stock.
The Myanmar government has said repeatedly that the ICC can not prosecute it because the country is not a member of the court. Several commissions, committees and investigative bodies have been formed in Myanmar to examine the Rakhine violence.
The Portuguese said, "Valencia, Smalling, Bailly and Shaw, they are probably the ones to start the season". Speaking of Rashford , he was named the second most valuable player in the world under the age of 21.
Marchionne, who was also Chairman and CEO of FCA, had been running Ferrari since taking over from Luca de Montezemolo in 2014. A statement from Ferrari confirmed that John Elkann would take over as chairman, with a recommendation that Louis C.
The findings point to a skyrocketing increase in cirrhosis and liver cancer deaths over the last decade. The NCHS report doesn't explain why the U.S.is seeing such pronounced increases in liver cancer deaths.
Peregine's key asset is the Chidliak Project, located in the Canadian Territory of Nunavut, 120 km northeast of Iqaluit. Peregrine's current focus is on the CH-6 and CH-7 pipes as part of the initial phase of development of the project.
Cassini data yields super sharp infrared images of Titan
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Trump invites Putin to USA amid criticism over Helsinki meet
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SDCC 2018: First Shazam! trailer released
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Spain withdraws arrest warrant for St Andrews academic
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Spelling it out: War of words over US-Russia relations
President Donald Trump and Russian President Vladimir Putin speak to reporters following their meeting in Helsinki on Monday. And that it was important to take that stand on behalf of the Intelligence Community and on behalf of the American people'.
First Trailer Tease For Godzilla
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Suns Complete Trades with Philadelphia and Brooklyn
Dudley, 33, will be starting his 12th National Basketball Association season, and has averaged eight points a game in his career. The Philadelphia 76ers have traded power forward Richaun Holmes to the Phoenix Suns for cash.
CVS pharmacist denies hormones to trans woman
She filed a complaint with the Arizona State Board of Pharmacy and asked CVS for a public apology, which she received Friday. CVS would not clarify whether the pharmacist was sacked , telling HuffPost that it does not comment on employment decisions.
Trial of 4-Day Work Week Hailed as Huge Success
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