Fiat Chrysler CEO Sergio Marchionne replaced suddenly due to ill health

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After an emergency board meeting Fiat Chrysler (FCA) has appointed Mike Manley, previously head of Jeep and RAM, as its acting CEO effectively immediately. In a statement overnight, the company announced with "profound sorrow that during the course of this week unexpected complications arose while Mr Marchionne was recovering from surgery and that these have worsened significantly in recent hours", and as a result the outspoken CEO "will be unable to return to work".

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