welcome to first shift I’m Jennifer Fong alongside Tom Warbeck Sergio Marchionneone of the auto industry’s most tenacious and respected auto executivesdied today he was 66 Marchione was the man in black who plucked Chrysler fromthe ashes of bankruptcy in 2009 and blended it with Fiat to create amoney-making global auto group Fiat Chrysler chairman John Elkin announcingMarshalls death saying in a statement quote unfortunately what we feared hascome to pass Sergio Marchionne manon friend is gone he went on to say Ibelieve that the best way to honor his memory is to build on the legacy he leftus continuing to develop the human values of responsibility and openness ofwhich he was the most ardent champion Marcion had fallen gravely ill afterundergoing shoulder surgery in a Swiss hospital in June forcing him to bereplaced as CEO of FCA this past Saturday July 21st according to anItalian news report Marchione had suffered in embolism while undergoing inoperation for an invasive shoulder sarcoma a soft tissue cancer the companyappointed the head of the automaker’s Jeep and Ram brands 54 year-old mikemanly as marshy own successor before taking el Marcion was already beginningto wind down a remarkable career he had planned to retire as CEO of FiatChrysler automobiles in April of 2019 our Leslie Allen looks back on the lifeof a man who has forever changed this industry who says that you got too manybrands will that he’ll send that he was sometimes gruff sometimes eloquentalways blunt always transparent a colorful figure wrapped inside a blacksweater and nothing short of a business geniusSergio Marcy owns death has robbed the auto industry of one of its mostinfluential figures ever Automotive News publisher Jason’slooks back Sergio Marconi was not only a masterful industrialist his level offinancial engineering made him the rarest of automotive CEOs and he wasrare brilliant thoughtful driven focused and talented enough to really revive twostruggling brands pulling Fiat and Chrysler out of the fire and intoremarkably stronger positions than they were when he first took control FCAreporter Larry Valiquette has covered Chrysler since 2007 I think his legacyhe certainly changed this industry if for no other reason than then he savedChrysler he took Chrysler over when nobody else would and every Chrysleremployee right now that has a job has a job because of that guy and that guyeven had fans on Wall Street morgan stanley’s adam jonas heaped praise onthe CEO in a january earnings call we hadn’t seen anything like you you tooktwo billion dollars roughly and you’ve turned it into I think around 72 billionand more important than that there are many hundreds of thousands of familiesacross many nations that are better off because of you and your team and youbeat the skeptics every step of the way so I just had to say god Bless YouSergio we’re never going to see anything like you againMarchione was born in italy in 1952 at age 14 he emigrated to Toronto with hisfamily he studied at various Canadian colleges receiving MBA and law degreesthen becoming an accountant and rising through the ranks at several Canadianbusinesses but it was in the auto world that he became larger-than-life chairmanand CEO of FCA chairman and CEO of ferrarichairman of maserati and european capital goods company CNH industrial allat the same time here’s Larry villa quit Sergio Marchionne was the smartest manI’ve ever met in person and I interviewed some folks that worked onthe Manhattan Project years ago this was a guy who was intimately involved forgood or bad in every detail of the companies that he ran I mean he had hehad this reputation for being a workaholic and he had a reputation forhaving all these direct reports and carrying all these cellphones and thatwas all true but he really lived this life and lived every detail of hiscompany I wanted a public accountability for the leadership team it’s the onlyway to lead life this tough leader didn’t suffer fools gladly you know younever wanted a cross surgeon because you never got a chance to do it twice but hewas a visionary creating 5-year plans for FCA appealing to the industry tosecure its future through consolidations and offering this advice to graduates in2011 people who contend themselves with a comfort zone are condemned to live ina self-made prison where the walls are too high and too thick for air and lightto get through people who see only themselves are destined to remaintrapped alone within this fragile 2-dimensional image of the looking glassand what a person has done during his lifeshould not be measured by what he’s achieved for himself but rather by whathe has left behind for others for first shiftI’m Leslie Allen you know Jen you and I had our own experience with Sergio overthe years interviewing him many times one that comes to mind was when he wasopening a Fiat store helping to open a Fiat store in suburban Detroit and ofcourse whenever Sergio is around there was a big scrum absolutely a huge scrumof reporters so I was running camera in the back and Jen was a problem it’s afriend right under a Martian and there was this one instance right after thescrum was done he looked down right at me with my mic right up in his face helooked down at me and said are you okay everybody was just all around us and itwas a kind of a big group there absolutely everybody’s pushing eachother in those scrums and here is Sergio wondering if Jennifer is okay she’sbeing pushed around it kind of tells you about the man he is certainly miss himMarcy Owens death comes on the same day of course that the automaker isreleasing its quarterly financial results we will bring you those as wellas more on the life of Sergio Marchionne and other news of the day this afternoonon Auto news now take care everyone
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