Italian-born business executive with dual citizenship in Canada and Italy, he is credited with turning around Fiat. When he became Fiat S.p.A.’s CEO on June 1, 2004, Fiat was considered a company in ill health with a poor reputation for the quality of its products. Five years later with Marchionne now at the helm of Fiat Group Automobiles since February 2005, the company had gained enough strength to purchase the American car company Chrysler. The purchase agreement was signed on June 10, 2009 and he became the CEO of Chrysler.
Marchionne’s father was a member of the Italian carabinieri. The family moved to Canada when the boy was in his early teens. In Canada he earned several degrees, becoming a chartered accountant and lawyer. He attended the University of Toronto where he studied philosophy, University of Windsor where he earned his MBA and Osgoode Hall Law School where he earned his law degree. His early career, beginning in 1982, was spent as a tax specialist and accountant for Deloitte & Touche in Canada. Switching companies and moving up through the ranks became a winning strategy for him. In addition to the millions he has earned, his curriculum vitae is studded with experiences at international companies, memberships on boards of prestigious companies, and honors including the Cavaliere del Lavoro. One American business magazine (“Business Week”), estimated his total compensation in 2008 at close to three and one half million Euros. He is married with two sons.