Cars and Drivers
Somebody Knew Fiat Chrysler CEO Marchionne Was Sick
Published:
Last Updated:
University Hospital Zurich has announced that Sergio Marchionne, the former CEO of Fiat Chrysler Automobiles N.V. (NYSE: FCAU), had been treated there for serious illness for over a year. Fiat Chrysler’s board and management said they know nothing about it. That “strains credulity,” as some people like to say. Hiding something of that magnitude for over a year, particularly for someone what was seen in public and attended hundreds of company and board meetings, does not make any sense.
A Fiat Chrysler public relations manager said “due to medical privacy, the company had no knowledge of the facts relating to Mr. Marchionne’s health.”
Really? And who or what is “the company”? Every board member? Chair John Elkann, who represents the family that controls Fiat Chrysler? Every single senior executive who reported to Marchionne?
The rules for a public company about ill CEOs are firm but may not be followed in many cases. A sick person at the top causes risk and the company needs to tell shareholders. They can buy, sell or hold shares based on full disclosure rather than being ambushed by bad news.
Marchionne smoked until a year ago, which is about the time he became very sick. He worked too hard, running from meeting to meeting and time zone to time zone. Some level of exhaustion would be been a good shield for a man who was sick and wanted to keep it quiet. But someone, or more than one, knew.
24/7 Wall St.Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.