TURIN, Italy--Sergio Marchionne, chief executive of both Fiat
SpA (F.MI) and Chrysler Group LLC as well as chairman of sister
company Fiat Industrial SpA (FI.MI), will be present for many years
to come, according to the head of the holding company behind the
companies Thursday.
"Having spoken with him, I can say that I'm convinced that he
will stay with us for many years to come," said John Elkann, chief
executive and chairman of Exor SpA (EXO.MI), at the holding
company's annual shareholders meeting in this northwestern Italian
industrial city, according to MF-Dow Jones. Exor is the single
biggest shareholder of Fiat and Fiat Industrial with a stake of
slightly more than 30% in both of them.
Mr. Marchionne has previously spoken of his intention to leave
Fiat in 2015.
He has overseen a major reorganization of the companies within
Exor's portfolio.
He first spun Fiat Industrial off from Fiat and set about buying
out minority shareholders in Fiat Industrial's U.S. unit, CNH
Global NV (CNH)--an operation set to close in the third
quarter.
Mr. Marchionne has also been working to complete Fiat's
acquisition of Chrysler.
Fiat makes cars and Fiat Industrial trucks and tractors.
--Gilles Castonguay in Milan contributed to this article.
-Write to Alberto Chimenti of MF-Dow Jones at
djitaly@dowjones.com
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