Watch Newsy On TV

Auto Industry Legend Sergio Marchionne Dies At 66

SMS
Auto Industry Legend Sergio Marchionne Dies At 66
Longtime Fiat Chrysler head Sergio Marchionne has died at the age of 66.
SHOW TRANSCRIPT

Auto industry legend Sergio Marchionne passed away Wednesday at the age of 66.  

Fiat Chrysler announced Saturday they were replacing Marchionne as CEO of the company, citing "unexpected complications" from surgery that left Marchionne unable to return to work.  

The auto executive left his mark on the industry throughout his career, perhaps most notably as CEO of Fiat when it bought Chrysler out of bankruptcy in 2009. As a combined company under Marchionne, Fiat Chrysler remained a top three Detroit automaker.  

Marchionne was also the chairman and CEO of Ferrari. Both Fiat Chrysler and Ferrari have announced successors for the companies.  

In a statement about Marchionne's death, Fiat Chrysler Chairman John Elkann said, "the best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion."

Marchionne leaves behind longtime partner Manuela Battezzato and two children, Alessio and Tyler.  

Additional reporting from Newsy affiliate CNN