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No FCA merger, and the next CEO

by Bill Cawthon on

Sergio Marchionne told stockholders that Fiat Chrysler will focus on its long term plans and not search for a merger, according to Reuters correspondent Stefano Rebaudo. Mr. Marchionne was addressing Friday’s stockholder meeting in the Netherlands.

Marchionne’s quest for a partner/buyer took on new life in recent weeks as Matthias Mueller, CEO of Volkswagen AG, suggested the auto giant might be interested in a tie-up.

Fiat Chrysler chairman John Elkann is not in favor of a merger, saying such deals are often made in “difficult times.”

Elkann also said that Marchionne’s successor will come from within the company; he and Marchionne are working on identifying that person. Marchionne is to retire in 2019, following the announcement of Fiat Chrysler’s 2018 financial results.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

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