Top Fiat Chrysler executive Alfredo Altavilla leaves after new CEO named
The resignation raises the stakes for CEO Mike Manley when he faces investors on Wednesday
Milan — Fiat Chrysler’s European chief has resigned after being passed over to replace ailing Sergio Marchionne as CEO of the group, according to people familiar with the matter. The departure of Alfredo Altavilla, chief operating officer for the region, deprives new Fiat Chrysler CEO Mike Manley of crucial management experience as he tries to steady the ship following the sudden loss of Marchionne, who was forced to relinquish his post of 14 years due to declining health. Altavilla was a close aide to Marchionne and considered one of three leading candidates for the top job, with Manley and chief financial officer Richard Palmer. Manley was selected on Saturday as the new CEO, only days ahead of the company’s July 25 results presentation. The resignation raises the stakes for Manley when he faces investors on Wednesday. He has already faced pressure to show he is capable of moving the firm forward. Now he will face questions on whether he can hold together the management team or fa...
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