The following is an excerpt from Tommaso Ebhardt | January 14, 2018 | Bloomberg.com |
Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne, one of the longest-serving bosses in the auto industry, said the company can double profit within five years by exploiting the potential of the Jeep brand.
With the offroad nameplate in position to grab as much as 20 percent of the global SUV market and coffers padded by lower U.S. taxes, it will be his successor who carries out the strategy. Marchionne was steadfast in his commitment to retire from Fiat in early 2019 after 15 years, succeeded by one of his lieutenants, he said in an exclusive sit-down interview in Detroit ahead of the North American International Auto Show.
Marchionne has transformed Fiat from a near-bankrupt European manufacturer into a global carmaker with the 2014 merger with Chrysler, giving the group brands including Jeep, Alfa Romeo and Maserati. While small compared with giants like Volkswagen AG and Toyota Motor Corp., Marchionne has given Fiat a new lease on life by streamlining expenses and shifting from unfashionable sedans to higher margin sport utility vehicles. His growth strategy is focused on a global expansion of Jeep.
For more visit: Bloomberg.com