Fiat Chrysler Names Manley CEO; Marchionne's Condition Worsens

(Bloomberg) -- Fiat Chrysler Automobiles NV named Jeep and Ram brands chief Michael Manley to replace Chief Executive Officer Sergio Marchionne, whose health condition has worsened after unexpected complications from surgery, according to a company statement.

Manley, 54, will become CEO immediately, the company said.

“During the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours,” according to the statement. “As a consequence, Mr. Marchionne will be unable to return to work.”

Manley was the executive behind the success of the Jeep brand’s global expansion. A Briton, he joined Chrysler in the U.K. in 2000 when the carmaker was part of Daimler. He was named head of Jeep at the time of Fiat’s acquisition in 2009 and led the transformation of the iconic American brand.

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