Sergio Marchionne is an Italian executive widely known for his turnaround of the Italian automotive group Fiat and, more recently, for managing the US automotive groupChrysler from bankruptcy to profitability. Marchionne currently holds several roles of major importance, including serving as CEO of Fiat S.p.A., Chairman and CEO of Chrysler Group LLC, and Chairman of CNH Industrial N.V. and its principal subsidiary CNH. He was elected Chairman of the European Automobile Manufacturers Association for 2012 (first elected in January 2006). He is the Chairman of Swiss-based SGS and is on the Board of Directors of cigarette and tobacco producer Philip Morris International, and was a member of the Board of Directors of the global banking group UBS for a number of years up to 2010, appointed Vice Chairman (non-executive) in February 2008. He is also a member of the Peterson Institute for International Economics as well as Chairman of the Italian Branch of the Council for the United States and Italy.
Fiat S.p.A. (Fabbrica Italiana Automobili Torino) is the parent company of the Fiat Group and, since July 2011, also the majority shareholder in Chrysler. On 29 January 2014, it was announced that Fiat S.p.A. will be merged into a new Netherlands-based holding company Fiat Chrysler Automobiles NV (FCA) with the now wholly owned Chrysler Group and that the merger is expected to take place before the end of 2014.
Fiat was founded in 1899 by a group of investors, including Giovanni Agnelli. During its more than century-long history, Fiat has also manufactured railway engines and carriages, military vehicles, farm tractors, and aircraft. In 2013, Fiat (together with Chrysler) was the second largest European automaker by volumes produced, and the seventh in the world ahead of Honda, PSA Peugeot Citroën, Suzuki, Renault and Daimler AG.