FCA’s CFO to Join Board of Directors

Fiat Chrysler Automobiles NV has named Richard Palmer, the company’s chief financial officer, to become one of three executive members of its board of directors.

His appointment will be finalized by FCA shareholders on April 12. The other two executive members of the company’s 12-member board are Chairman John Elkann and CEO Mike Manley.

Palmer, 52, became CFO of Fiat SpA in 2011. He has been CFO of FCA since that holding company was created in 2014 by the merger of Fiat and Chrysler and was a close financial confidant of the late Sergio Marchionne.

Palmer worked closely with Marchionne on the Fiat-Chrysler merger, FCA’s spinoff of Ferrari SpA and the impending sale of FCA’s Magneti Marelli partsmaking business to Calsonic Kansei.