Fiat Boss Sergio Marchionne dies aged 66

It did not give the timing of any of the cardiac events.

The orchestration of the Fiat-Chrysler merger in 2014 was seen as the height of his achievement, and in recent years he had switched the strategy of the company to focus on SUVs, particularly from the Jeep brand. It also claims that Marchionne is now being kept alive only by machines, and that doctors said there was no hope of recovery.

The former chairman of Ferrari, Sergio Marchionne, has died in Zurich at the age of 66 following complications in shoulder surgery.

A native of Italy who grew up in Canada, Marchionne acted as a bridge between the company's Italian and American sides.

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Italian President Sergio Mattarella: "Marchionne wrote an important page in the history of Italian industry".

Cgil's Fiom metalworkers union clashed with Marchionne over changes he brought to Italian plants to increase productivity.

In his role as CEO at Alusuisse, much like he was later to do with Ferrari and Fiat Chrysler, he spun off the drug business to create Lonza Group AG.

Manley opened a conference call on the automaker's quarterly results on Wednesday with a minute of silence. "Our thoughts and prayers go out to his family at this hard time".

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"There is no doubt Sergio was a very special man and there is no doubt he will be sorely missed". I would like to move forward with the presentation.

Marchionne resurrected one of Italy's biggest corporate names and revitalized Chrysler, succeeding where the USA company's two previous owners - Mercedes parent Daimler and private equity group Carberus - both had failed.

Replaced as CEO of Fiat Chrysler Automobiles (FCA) as well as his Ferrari positions at the weekend, a statement issued by Exor - holding company for the Agnelli family - today announced Marchionne's passing.

Appointed CEO of Fiat in 2004, Marchionne became known as a no-nonsense workaholic, pushing his subordinates hard.

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Concerns over Marchionne's medical condition rippled through the company for weeks.

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