Marchionne’s era is ending at the car giant Fiat Chrysler

Fiat founder, the Agnelli family, Fiat Chrysler and Ferrari President John Elkann released a message saying, “I am deeply saddened to learn of Sergio’s health condition. This was unthinkable until a few hours ago.”

Elkann said in the letter he wrote to the company’s employees, “Without a doubt this is the most difficult letter I have ever written,” and said that Sergio Marchionne’s health did not allow him to return to the company.

While the details of Sergio Marchionne’s health problem were not revealed in the company’s statement, Italian media wrote that the 66-year-old businessman underwent surgery on his right shoulder in a hospital in Switzerland in the past few weeks.

In some news sites, it was claimed that Marchionne was diagnosed with cancer and was in a coma.

Sergio Marchionne, who was appointed head of Fiat in 2004, was expected to leave the post next year.

Marchionne is seen as the name that saved the Fiat and Chrysler brands from bankruptcy. The merger of the two companies into Fiat Chrysler Automobiles (FCA) in 2014 also took place under Marchionne’s leadership.

“Sergio has been the best CEO anyone could ask for in the last 14 years, first at Fiat, then Chrysler, and finally FCA. For me, he has been a true and genuine mentor, colleague, and valuable asset.” We got to know each other during one of the worst times in Fiat’s history. Thanks to his intelligence, patience and leadership, we were able to save the company.”

Almost all Italian newspapers have carried news of Marchionne’s farewell in today’s headlines.

Corriere della Sera “Marchionne, the end of an era”, La Repubblica “FCA, the Marchionne era is over”, Il Messaggero “The Marchionne era is over”, Il Giornale “Marchionne is at the end of his life. Fiat pulls out in shock”, Libero “The Savior of Fiat is gone. Goodbye great Marchionne”.