With the Chrysler restructure and Fiat 'global strategic alliance' process underway, Fiat has announced that its CEO, Sergio Marchionne, will add the role of CEO for Chrysler once it emerges from the restructuring process.
At the end of the Chapter 11 bankruptcy proceedings, current Chrysler CEO Bob Nardelli will step down and Marchionne will take his place. Already Marchionne has travelled to the US to discuss with the Obama Administration his plans for the new company.
The details are yet to be finalised - such as Marchionne?s salary which is expected to be limited by restrictions placed by US Congress - but the 'basket-case formerly known as Chrysler LLC' will have plenty to keep the new CEO fully occupied. (But before shedding a tear for Marchionne's Chrysler salary, remember he will still have his Fiat package to keep him satisfied.)
Marchionne is keen to utilise the Chrysler distribution network as quickly as possible to provide small cars to the US. ?My goal is to sell the first Fiat 500 in the US by the end of 2010,? he said.
Also on the Fiat Chief''s plate are the considerations within Fiat for the addition of GM?s German Opel division to the Fiat umbrella, and possibly also Vauxhall and Saab - a move which would propel Fiat to the status of world's second largest automaker.
Sergio Marchionne has already proven his ability, turning Fiat around from near bankruptcy since taking over in 2004. While the markets may have changed dramatically since then, Marchionne is eager to repeat his performance with the newly-globalised Fiat-Chrysler.