Marchionne was treated for a year, says hospital

Marchionne was treated for a year, says hospital

- in Business & finance

By Peter Campbell in London and Ralph Atkins in Zurich

Sergio Marchionne obtained common medical remedy for greater than a 12 months for a “critical sickness”, in response to the Swiss hospital the place the previous Fiat Chrysler Vehicles chief govt died this week.

The intervention from College Hospital Zurich got here following hypothesis in Italian media about Mr Marchionne’s situation earlier than his loss of life, which was introduced on Wednesday.

FCA solely launched particulars about Mr Marchionne’s fading well being on Saturday, which the carmaker attributed to problems from shoulder surgical procedure.

The hospital’s assertion stated: “Mr Sergio Marchionne was a affected person at USZ. Attributable to critical sickness, he had been the recipient of recurring remedy for greater than a 12 months. Though all of the choices supplied by cutting-edge medication had been utilised, Mr Marchionne sadly handed away.”

Mr Marchionne’s household stated in an e mail on Thursday night time that FCA was not conscious of the chief govt’s well being situation, confirming a press release that FCA had issued earlier within the day.

FCA on Saturday introduced unexpectedly that Mr Marchionne would get replaced, with out elaborating on his situation.

It added course of to interchange him had been occurring for a number of months, leading to Jeep boss Mike Manley being named chief govt on Saturday.

John Elkann, chair of FCA, later that night stated Mr Marchionne’s situation was “unthinkable till a couple of hours in the past, and one which leaves us all with an actual sense of injustice”. He additionally didn’t elaborate on the small print.

In response to the hospital’s assertion on Thursday, FCA stated it had “no information of the details referring to Mr Marchionne’s well being” due to “medical privateness”. It added: “The corporate was made conscious that Mr Marchionne had undergone shoulder surgical procedure and launched a press release about this.”

“On Friday July 20, the corporate was made conscious with no element by Mr Marchionne’s household of the intense deterioration in Mr Marchionne’s situation and that because of this he could be unable to return to work. The corporate promptly took and introduced the suitable motion the next day.”

Mr Marchionne, a heavy smoker till he stop a few 12 months in the past, had been on account of retire in 2019.

Succession planning had been occurring contained in the enterprise, with Mr Manley, chief monetary officer Richard Palmer, and European boss Alfredo Altavilla all seen as sturdy contenders. Mr Altavilla stop this week after being handed over for the highest function.

In addition to being chief govt of FCA, Mr Marchionne additionally ran Ferrari, the place he had been anticipated to remain till 2021.

He was additionally chairman of CNH Industrial, the tractor and truckmaker that he spun out of FCA throughout his 14-year tenure on the helm of the Italian-American automobile group.

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