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| Fiat ex-boss Marchionne dies at 66 | Fiat ex-boss Marchionne dies at 66 |
| (35 minutes later) | |
| The former chief executive of carmaker Fiat-Chrysler, Sergio Marchionne, has died in hospital in Zurich aged 66. | The former chief executive of carmaker Fiat-Chrysler, Sergio Marchionne, has died in hospital in Zurich aged 66. |
| He was replaced four days ago when his health worsened following complications from surgery on his right shoulder. | |
| Mr Marchionne, who was also Ferrari's chairman, had led the combined company for more than a decade and planned to step down next year. | |
| Mr Marchionne has been succeeded by Briton Mike Manley, head of the Italian-American firm's Jeep division. | Mr Marchionne has been succeeded by Briton Mike Manley, head of the Italian-American firm's Jeep division. |
| "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," said group chairman John Elkann, a member of the Agnelli family that controls the company. | "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," said group chairman John Elkann, a member of the Agnelli family that controls the company. |
| Mr Elkann praised Mr Marchionne's "values of humanity, responsibility and open-mindedness". | Mr Elkann praised Mr Marchionne's "values of humanity, responsibility and open-mindedness". |
| He added: "My family and I will always be grateful for what he has done." | He added: "My family and I will always be grateful for what he has done." |
| Workaholic lifestyle | Workaholic lifestyle |
| Mr Marchionne was seen as the driving force behind Fiat-Chrysler's growth. | |
| Famous for his signature black jumpers, sharp tongue and workaholic lifestyle, he is credited with saving both Fiat and Chrysler from bankruptcy. | Famous for his signature black jumpers, sharp tongue and workaholic lifestyle, he is credited with saving both Fiat and Chrysler from bankruptcy. |
| An accountant and lawyer by training, Mr Marchionne joined Fiat in 2004 after the death of its patriarch Gianni Agnelli. | An accountant and lawyer by training, Mr Marchionne joined Fiat in 2004 after the death of its patriarch Gianni Agnelli. |
| In 2009, he presided over Fiat's merger with Chrysler, which was then the number three carmaker in the US. | In 2009, he presided over Fiat's merger with Chrysler, which was then the number three carmaker in the US. |
| He carried out two successful spin-offs from the merged group - first its tractor-making arm in 2011, which became CNH Industrial, then Ferrari, which was floated in 2016. | He carried out two successful spin-offs from the merged group - first its tractor-making arm in 2011, which became CNH Industrial, then Ferrari, which was floated in 2016. |
| By this year, Mr Marchionne had managed to wipe out the group's near-$13bn (£10bn) debt pile, something he described as a "healing" process for two companies that for so long were associated with failure. | By this year, Mr Marchionne had managed to wipe out the group's near-$13bn (£10bn) debt pile, something he described as a "healing" process for two companies that for so long were associated with failure. |
| Mr Marchionne was also a big figure in the world of Formula One, and after taking charge at Ferrari in 2014 oversaw a major restructuring of the racing team. | |
| He formed a powerful alliance with Mercedes, fighting major changes to the sport being planned by new owners Liberty Media for 2021. | |
| Mr Marchionne more than once threatened to pull Ferrari out of F1 after 2020 if he was unhappy with the changes. |