Fiat Chrysler board meets in light of CEO's surgery

July 21, 2018 - 7:12 am

ROME (AP) — The boards of Fiat Chrysler, Ferrari and CNH Industrial have been called to meet in Italy in light of CEO Sergio Marchionne's surgery.

The three boards were summoned to separate meetings in Turin on Saturday amid the prolonged convalescence of Marchionne, who had shoulder surgery three weeks ago in Switzerland.

Marchionne, 66, has long said he would step down in 2019 as CEO of the FCA automobile manufacturer.

Statements from the boards were expected later on Saturday.

The Italian-Canadian Marchionne has said his successor as CEO would come from within Fiat Chrysler Automobiles.

CEO of Fiat since 2004, Marchionne is also chairman of Ferrari, the luxury sports car brand.

During his tenure, Marchionne oversaw Fiat's merger with bankrupt U.S. carmaker Chrysler.

CNH manufactures farm equipment, trucks, buses and other vehicles.

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