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Fiat Chrysler New CEO Takes Wheel with Earnings Presentation

Fiat Chrysler New CEO Takes Wheel with Earnings Presentation

Tuesday, 24 July 2018 09:37 AM

MILAN (AP) — Fiat Chrysler's second-quarter earnings presentation was meant to celebrate long-time CEO Sergio Marchionne's achievement of zero debt. That will be overshadowed by the accelerated debut of a new global boss, Mike Manley, after the sudden deterioration of Marchionne's health.

Credited with the turnaround of money-making Jeep, Manley faced his first test as CEO on Monday as shares in Fiat Chrysler became volatile and the head of the European operations — a potential successor to Marchionne — quit. In a vote of confidence, ratings agency Standard & Poor's confirmed Fiat Chrysler's BB+ credit grade.

Manley's next test comes Wednesday when he presents the Italian-American automaker's earnings. A forecast by FactSet put Fiat Chrysler second-quarter profits at 1.28 billion euros ($1.5 billion), up 11 percent over the same period last year.

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Fiat Chrysler's second-quarter earnings presentation was meant to celebrate long-time CEO Sergio Marchionne's achievement of zero debt. That will be overshadowed by the accelerated debut of a new global boss, Mike Manley, after the sudden deterioration of Marchionne's...
APFN,EU,Italy,Fiat Chrysler
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2018-37-24
Tuesday, 24 July 2018 09:37 AM
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