A business giant has just passed away. According to reports, Sergio Marchionne has died.
"Sergio Marchionne, a charismatic and demanding CEO who engineered two long-shot corporate turnarounds to save carmakers Fiat and Chrysler from near-certain failure, died Wednesday. He was 66," reported ABC News.
Please join us in sending our prayers to his family and friends during this difficult time. We ask for God's healing grace to surround them as they mourn his passing.
"Unfortunately what we feared has come to pass," said John Elkann, Fiat heir and head of the Exor holding company. "Sergio Marchionne, man, and friend, is gone."
Sergio was a renowned business leader. He is credited with having transformed Fiat and Chrysler into the world's 7th largest manufacturer. Sergio was originally born in Italy but moved to Canada when he was a teenager.
"It's highly unlikely that Chrysler would exist today had he not taken that gamble," said Autotrader.com analyst Michelle Krebs. "The company was in such bad shape, being stripped of any kind of resources by the previous owners."
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