Sergio Marchionne Net Worth is$60 Million
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Date of Birth: Jun 17, 1952
Country: Canada, Italy
Automotive businessman Sergio Marchionne is currently the CEO of both Fiat and Chrysler, and he has a net worth of $60 million. In addition to his impressive net worth, Marchionne has achieved notability that few businessmen are able to by actually doing a tangibly good job in turning around two struggling companies: The aforementioned Fiat and Chrysler were both in serious financial trouble before Marchionne was brought in to turn them around and get them back on their feet, which he managed to do in both cases. One of the ways he was able to do this is through a unique and idiosyncratic management style based on his preference for a hands on style of communication. For instance, Marchionne is reported to have been appalled by the practice at Fiat of executives communicating with each other through their secretaries. Marchionne favors a much more personal approach, and even moved his office from the top floor penthouse to the fourth floor of Chrysler headquarters, the same floor of the engineering department. The penthouse at the top floor which used to be the offices of the president and vice president of the company now sits empty and unused, relics of an era of poor business.
Sergio Marchionne (Italian pronunciation: [ˈsɛrdʒo marˈkjonne]; born June 17, 1952, in Chieti, Italy), now living in Zug, Switzerland, is an international manager widely known for his turnaround of the Italian automotive group Fiat and, more recently, for managing the US automotive group Chrysler from bankruptcy to profitability. Marchionne currently holds several roles of major importance, including serving as CEO of Fiat S.p.A., Chairman and CEO of Chrysler Group LLC, and Chairman of Fiat Industrial S.p.A. and its principal subsidiary CNH. He has been elected Chairman of the European Automobile Manufacturers Association for 2012 (first elected in January 2006). He is the Chairman of Swiss-based SGS, is on the Board of Directors of Altria and was a member of the Board of Directors of the global banking group UBS for a number of years up to 2010, appointed Vice Chairman (non-executive) in February 2008. He is also a member of the Peterson Institute for International Economics as well as Chairman of the Italian Branch of the Council for the United States and Italy.
Marchionne is widely recognized for turning around Fiat Group to become one of the fastest growing companies in the auto industry, returning it to profitability in 2006 less than two years after taking the helm. In 2009, he was instrumental in Fiat Group forming a strategic alliance with the ailing US automaker Chrysler, with the support of the US and Canadian governments and trade unions. Less than two years later, following its emergence from Chapter 11, Chrysler returned to profitability (Q1 2011) and repaid all government loans (May 2011). Under Marchionne's leadership, Fiat and Chrysler have come together to create a leading global player in the automobile sector, leveraging the product portfolios, purchasing power and distribution capabilities of both partners.
In addition to returning Italy's number-one industrial group to financial health, Marchionne has also been a major pr

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Sergio Marchionne Latest News

Marchionne says will remain Ferrari chairman after listing stake

MILAN: Fiat Chrysler Chief Executive Sergio Marchionne, who took over as the chairman of Ferrari earlier this month, said he would keep his role at the luxury unit even after spinning it off from the group and listing a 10 percent stake on the market.
Posted: October 30, 2014, 3:17 am

CEO: Ferrari split preserves brand, raises capital

Fiat Chrysler Automobiles CEO Sergio Marchionne is proving the newly merged automaker will act swiftly to address market concerns. FCA on Wednesday announced plans to bring in 4 billion euros (about $5 billion) worth of capital into the car company through ...
Posted: October 29, 2014, 11:39 pm

Insider Buying: Sergio Marchionne Buys 1,000 Shares of Philip Morris International Stock (PM)

Philip Morris International (NYSE:PM) Director Sergio Marchionne acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average cost of $87.98 per share, with a total value of $87,980.00.
Posted: October 29, 2014, 12:04 am
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