Marchionne Confirms 2018 Exit from FCA

Sergio Marchionne confirms he will retire from Fiat Chrysler Automobiles NV by the end of 2018.

He tells analysts his successor will be chosen from a “suitable stable” of candidates within the company and will take over as CEO in early 2019. Thereafter Marchionne declares he will have no ties to the company.

Early next year FCA also will unveil a new five-year business plan covering 2018-2022. Marchionne says the company may spin off some unspecified non-core business operations by then.