Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

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Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

AMSTERDAM – Fiat Chrysler shareholders held a meeting yesterday to officially vote on the appointments of Mike Manley as CEO of FCA and Louis Camilleri as the CEO of Ferrari. Manley and Camilleri were announced as the replacements for Sergio Marchionne following the former chief’s sudden death. At the same time, FCA announced that it would place John Elkann in the role of Chairman.

A minute-long moment of silence was held at the start of the meeting in honor of Marchionne. According to reports, 99 percent of shareholder votes were in favor of Manley’s appointment at FCA, and 98 percent were in favor of Camilleri taking the CEO role at Ferrari.

Manley said at the shareholder’s meeting that he will announce his organizational plans for the automaker by the end of September.

“When we learned Sergio Marchionne could not return to work the board decided to appoint Mike Manley, who was the only candidate,” Chairman John Elkann said. The chairman added the decision was based on succession plans the board was working on with Marchionne for his planned departure in 2019.

Of Camilleri’s direction at Ferrari, Elkann said, “Sergio Marchionne strengthened the foundations of Ferrari, now we can build on that for the future, which will be a bright future.”

Reuters contributed to this report.

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