There may soon be a game of musical chairs underway in the executive suites at Chrysler and Fiat. Sergio Marchionne, the chairman of the emerging trans-Atlantic automotive alliance says he plans to merge the top management of the two companies.
Observers have been expecting the move in line with the steady integration of the two companies. Fiat will soon own a majority stake in Chrysler, which it effectively took over after the U.S. maker’s 2009 bankruptcy. The move should streamline operations and make it easier for Chrysler and Fiat to effectively operate as one company.
Marchionne said he plans to announce the new management structure, “in terms of leadership pretty quickly,” during an appearance at the Swiss-American Chamber of Commerce, in Zurich.
The two companies already consolidated their financial results at the end of May, following Fiat’s move to pay off its remaining U.S. government loans, which were part of the post-bankruptcy bailout.