"Unexpected complications arose while Mr Marchionne was recovering from surgery and. these have worsened significantly in recent hours", Fiat Chrysler said in a statement on Saturday.
Having helped turn around the fortunes of Fiat and Chrysler, Marchionne (pictured in 2016) became CEO of Fiat Chrysler Automobiles (FCA) when the two merged in 2014, and then took on the role of Ferrari president from long-time previous incumbent Luca di Montezemolo later that year.More news: Myanmar army made Rohingya crackdown plan
Marchionne, who is 66 years old, recently underwent surgery on his right shoulder and was expected to miss the company's second-quarter sales call due to the procedure. As CEO, Marchionne has led FCA through multiple plans for profitability, which the automaker has largely delivered on, and spun off Ferrari as a successful standalone business unit. Manley, 54, had been heading the Jeep brand since June 2009 and the Ram brand from October 2015. "It was a situation that was unthinkable until a few hours ago, and one that leaves us all with a sense of injustice".
As a effect, Mr. Marchionne will be unable to return to work. "My first thoughts go to Sergio and his family".
"It has been my privilege to have had Sergio at my side for all these years", Elkann said in asking for respect for Marchionne's privacy at this time.More news: Jhonattan Vegas Gets to British Open 2 Hours Before Tee Time
"In an emergency meeting called after Marchionne's health worsened, the Ferrari board also named John Elkann as chairman and gave Camilleri powers to oversee the company's operations", Reuters reported.
While Manley's position is only temporary, FCA's Board of Directors will objective electing him to the board and making him the company's next executive director. Evidence of that: last month at an event to release the company's next five-year business plan, the sweater-wearing CEO wore a tie to signal he had paid down the debt, as promised.More news: It is known, what is injurious to health early dinner