MARANELLO, Italy – Former Ferrari chairman and CEO Sergio Marchionne has died at the age of 66 following complications from shoulder surgery.
Fiat/Chrysler Automotive officials had just confirmed a succession plan for the company on Saturday, with Mike Manley becoming CEO of FCA, John Elkann elevated to Ferrari chairman and Louis C. Camilleri named as CEO of Ferrari.
“All of us at Ferrari feel privileged to have worked alongside a courageous leader like Sergio Marchionne, a man of enormous humanity and intelligence,” Ferrari officials said in a statement. “In this moment of sadness, we join with his family in remembering him with immense affection.”
Marchionne was born in Italy in 1952 but moved to Canada with his family at age 13 and completed his education there, earning a degree in philosophy and later completing accountancy qualifications, an MBA and a law degree as well.
He became chairman of Ferrari in September of 2014, replacing the outgoing Luca di Montezemolo, and kept a close involvement with the marque’s Formula One team.
Under his leadership, Ferrari returned to the forefront of the F-1 championship fight over the last three years, capturing 12 grand prix victories over the last three and a half seasons and ranking second in the constructor’s championship in both 2015 and 2017.
Outside of motorsport, Marchionne helped broker the merger deal between Fiat and Chrysler which was hailed by many to have saved both companies.
“It is with great sadness that I learned that Sergio Marchionne tragically and unexpectedly passed away,” said FIA President Jean Todt. “He achieved a colossal amount for the automotive industry and motorsport worldwide, dedicating himself fully to turn around the FIAT-Chrysler group and putting all his energy to bring Scuderia Ferrari back to the top. He was an endearing, upstanding and brave man, an unconventional and visionary leader. He was an eminent member of the FIA F1 Strategy Group and of the FIA High-Level Panel for Road Safety. His death is a considerable loss.”
“Sergio Marchionne was Chairman and CEO of several important automobile companies with significant history in motorsport. He was one of the most influential personalities the auto industry has ever seen, and that influence manifested itself on the racetrack through numerous race victories and championships over the years,” added IMSA Chairman Jim France. “On behalf of IMSA, I offer our sincere condolences to Sergio’s family, friends and numerous business associates. He will be remembered as an icon of the industry and will be missed by many who considered him a friend.”
Marchionne is survived by longtime partner Manuela Battezzato; his estranged wife Orlandina; and two sons, Allessio Giacomo and Jonathan Tyler.
