Sergio Marchionne, the former head of Fiat Chrysler Automobiles, has died.
Marchionne, 66, suffered complications from a recent shoulder surgery at a hospital in Zurich, and was replaced as CEO last weekend when his ill health prevented him from continuing in a 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 led the FCA group following Fiat and Chrysler's merger in 2011. He was due to step down as CEO next year.
Also read: Highlights from Sergio Marchionne's 14-year reign over Fiat