5 Unforgettable Feats Sergio Marchionne Accomplished in His Lifetime
Few car bosses achieve great success. But Sergio Marchionne was so successful it’s hard to narrow down his accomplishments.
Despite the fact that running a car company is a stressful, high-risk, and high-exposure job, we rarely embellish the accomplishments of the few that actually succeed. But Sergio Marchionne wasn’t your average automotive CEO. He was, in fact, one of the most eclectic, controversial, and yet successful car bosses in the history of car bosses. So much so that narrowing down his many accomplishments to just five wasn’t exactly easy.
Sadly, Marchionne didn’t quite reach the spoils of retirement so that he could enjoy his legacy. The 66 year-old tragically passed on Wednesday, July 25, 2018 following complications from shoulder surgery. Just days, ironically, after handing over the reigns of Fiat Chrysler to former Jeep boss Michael Manly. And even though he already had a succession plan in place, Marchionne’s death leaves a massive void in the automotive industry. Here are, in our opinion, just a few of his greatest accomplishments since he was thrust into the spotlight back in 2004.
Saving Fiat and Chrysler from Certain Extinction
Marchionne’s most famous hat trick was, of course, righting the ship at both Fiat and Chrysler. When he took over Fiat SpA in 2004, the company had just lost $7 billion the prior year and was on the verge of bankruptcy. He was also the company’s fifth CEO in just two years, facing what seemed at the time to be an impossible task. And yet, by 2005, Marchionne had already squeezed a $2 billion dollar profit from the ailing automaker.
Chrysler was in the same sort of trouble following the automotive industry crisis from 2008-2010. After suffering through Chapter 11 bankruptcy and a government bailout, Fiat began moving to purchase shares of the legendary American automaker. By the beginning of 2014, that deal was complete, and Fiat Chrysler Automobiles, NV (FCA) was born. Marchionne strengthened his reputation as a turnaround artist by doing the same thing with Chrysler, boosting both company’s values tenfold in his 14 years at the helm.
Bringing Alfa Romeo Back to America
Legendary Italian automaker Alfa Romeo exited the U.S. market back in 1995, and most feared it would never return. Things looked pretty grim for Alfa at the time amid sales slumps, quality problems, and superior competition. But the along came Sergio Marchionne, who came up with a plan to not only return Alfa to prominence, but to also bring it back to the states.
The formula was simple, really. Sexy Italian styling, loads of power, and plenty of advanced technology. The Giulia came first, followed by the 124 Spyder, the 4C, and even a crossover – the Stelvio. Critics were skeptical that Alfa could gain traction in the U.S., but Marchionne remained steadfast in his goal of establishing America not just as a viable market, but as Alfa’s largest market. And while that mission is still a work in progress, there’s no denying that those efforts have been successful thus far.
Pushing the Muscle Car Horsepower Race to an Entirely New Level
While the Mustang and Camaro were dueling it out on the streets, Chrysler was barely staying afloat. Then along came Marchionne, and soon Dodge was dominating the new horsepower wars with the Hellcat Charger and Challenger. Like most of Marchionne’s signature moves, this one came out of nowhere. Nobody ever expected to be able to go down to their local dealership and buy a mass-produced, 707 hp, supercharged machine, but here we are.
It didn’t stop there, either. Since the Hellcat first roared onto our streets, that same raucous engine has landed in everything from a Jeep Wrangler concept to the production Jeep Trackhawk. And then along came perhaps the most insane production vehicle we’ve ever seen – the Dodge Demon. With as much as 840 hp, the car specifically designed to go as fast as possible in a straight line does exactly that. And in a flash, Dodge didn’t just compete with Ford and Chevy any more. They suddenly owned them.
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