Automotive News Europe is reporting Mike Manley has been named the new Chief Executive Officer of Fiat Chrysler Automobiles. The announcement comes as former CEO Sergio Marchionne has exited the company due to health concerns.
Manley has served as the head of the Jeep brand since 2009 and the Ram brand since 2015. During his tenure both brands have become highly profitable for FCA, led primarily by Jeep’s global growth. He’s also served on FCA’s Group Executive Council since 2011. Manley has been on a short list of potential replacements for Marchionne, who was originally slated to retire in April 2019.
Marchionne’s swift exit stems from a recent surgery on his right shoulder. According to Italian media reports, the executive suffered complications from surgery that are leading to a period of convalescence.
The FCA board of directors met in an emergency meeting on Saturday to select a successor for Marchionne.