Sergio Marchionne, the former chairman of the Fiat Chrysler Automobiles (FCA) Group, has passed away at age 66.
He had suffered complications from a recent shoulder surgery at a hospital in Zurich, Switzerland, and was replaced as CEO last weekend, when his health prevented him from continuing in the leadership role.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” confirmed FCA chairman John Elkann, of the controlling Agnelli family, in a statement.
The Italian-Canadian had been CEO of Fiat since 2004 and had led FCA following Fiat and Chrysler's merger in 2011. He was due to step down as CEO next year.
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