CEO REPLACEMENT
Fiat's hands are full searching for Sergio Marchionne’s successor
Milan — Fiat Chrysler Automobiles is widening its search for a successor for CEO Sergio Marchionne, with a group of second-tier managers joining company veterans on a growing list of candidates, according to people close to the discussions. While Marchionne’s closest aides, including Europe chief Alfredo Altavilla and chief financial officer Richard Palmer, are under consideration to replace the CEO, the search has broadened to some younger candidates as the board casts a wide net, said the people, who asked not to be identified because the matter is private. Executives from outside the company are not under consideration, the people said. While Marchionne is set to stick around for about two years, succession has become a top priority for the board. It is a particularly complex issue as the long-time CEO holds unusually broad authority, directly involving himself in almost all strategic, operational and financing activities.
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