Mike Manley, who has headed the Jeep brand since 2009 and the Ram brand since 2015, has just been named CEO of Fiat Chrysler Automobiles effective immediately. He immediately replaces Sergio Marchionne who has held the position since 2009. The appointment was made at an emergency meeting held in Turin by the FCA board of directors to select a replacement for Marchionne.
Marchionne previously announced he would step down as CEO in 2019, but is now being replaced earlier than planned due to recovery from a recent surgery.
This should only mean great news for Jeep. Having the former head of the Jeep brand at the helm of FCA bodes well for the Jeep brand and the Wrangler. Not that Jeep’s importance to FCA needs any emphasizing as record Jeep sales during first quarter of 2018 helped FCA earn a net profit of $1.2 billion (a 60% gain from the same period last year). The Jeep brand has increased FCA’s overall sales by 22.5 percent so far this year. By itself, Jeep has been responsible for 44.7% of FCA sales in 2018 year-to-date.