Race Sharesracial divisions
Auto shares slipped into a pile-up last weekend, and Fiat Chrysler automobiles sustained more damages than most.
Wednesday's announcement of the second-quarter profit deficit seems to have shaken investor confidence less than the abrupt demise of Sergio Marchionne, who took over Fiat in 2004, spearheaded Chrysler's 2009 payout and provided stockholders with selective yields - more than 250% in his last five years.
On Monday, Fiat Chrysler Automobiles NV said that its head of production in Europe had stepped down and was added to the turbulence at automakers following the abrupt retirement of its long-time CEO. Alfredo Altavilla, who has managed his businesses in Europe, Africa and the Middle East, said he is on his way to pursuing other career interests.
The DETROIT -- Fiat Chrysler Automobiles NV on Saturday nominated a new CEO in an unanticipated move to take over from the battered Sergio Marchionne, who completed the fusion of Fiat and Chrysler and headed the combined business for nearly a decade. DETROIT -- Fiat Chrysler Automobiles NV announced the appointment of a new CEO on Saturday.
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