After helping lead the smallest of Detroit’s automakers out of bankruptcy while also turning around its Italian partner Fiat, CEO Sergio Marchionne says he’s close to “done” and ready to find something a little less challenging to do.
Marchionne’s key goal will be completed this coming weekend with the formal merger of the two companies into the new Fiat Chrysler Automobiles, or FCA, which will have its headquarters in London while being incorporated in the Netherlands.
That leaves Marchionne the challenge of putting in place the company’s new business plan which will take it through to 2018 when he apparently plans to retire, he said during an interview with the Bloomberg news service.
“I am not going to do any more turnarounds,” he said, adding that, “I’m done. Let some of the young punks do it.”