Fiat Chrysler Names Manley as CEO, Corriere Della Sera Reports

(Bloomberg) -- Fiat Chrysler Automobiles NV named Michael Manley, head of the automaker’s Jeep and Ram brands, as chief executive officer, replacing Sergio Marchionne, Corriere Della Sera said Saturday on its website.

Marchionne, 66, has been on medical leave for the past several weeks and won’t return to his CEO roles at the Italian-American automaker or at race car manufacturer Ferrari NV, according to people familiar with the matter.

The boards of both companies are preparing to name replacements for him on Saturday, said the people, who asked not to be named discussing confidential matters. Manley is 54.

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