FIAT CEO MARCHIONNE PAID R85 MILLION

Sergio Marchionne, the CEO of both Fiat and Chrysler Jeep, was paid a handy cash sum of R54 million last year, including bonuses and incentives. At the same time, Marchionne was paid R31 million for his role as executive chairman of the CNH Industrial group. CNH makes tractors and trucks, and is part-owned by Fiat. Therefore in total, he went off with about R85 million.

Sergio Marchionne

Marchionne is the chief architect of Fiat’s buyout of the Chrysler Jeep group. Him and his team orchestrated the whole thing in order to help Fiat re-enter the US market, as well as to give the Italian group better access to the premium segment where Chrysler and Jeep play quite nicely at the moment.

Alfa Romeo 4C Nurburgring record 3

The Fiat Group has been able to reach profitability to the tune of some R50 billion in 2013 on the back of major restructuring and some new products from the Fiat brand itself, as well as Ferrari and Maserati. Plans are afoot to improve this figure in 2014 with the introduction of further new products, while 2015 could be the start of a new era for the group’s Alfa Romeo brand.

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