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Fiat Chrysler to name Jeep's Manley to replace Marchionne as CEO: source

Reuters

MILAN (Reuters) - Fiat Chrysler (FCA) has named Mike Manley, the head of the carmaker's profit engine Jeep, as its new chief executive, replacing Sergio Marchionne who had to step down after serious complications from surgery, a source close to the matter said.

Manley's appointment was first reported by Automotive News.

The boards of FCA and sportscar maker Ferrari, where Marchionne is both chairman and CEO, were meeting on Saturday to discuss succession, two other sources had said.

Another sister company, truck and tractor maker CNH Industrial, which is also chaired by Marchionne, also met on Saturday, the two sources said.

(Reporting by Agnieszka Flak; Editing by Mark Bendeich)