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Sergio Marchionne, who engineered turnarounds to save both Fiat and Chrysler from near-certain failure, has died.
The holding company of the Agnelli family, which founded Fiat, confirmed Wednesday that Marchionne, 66, had died.
Marchionne joined Fiat in 2004 and led the Turin-based company's merger with bankrupt US carmaker Chrysler. He built the dysfunctional companies into the world's seventh-largest automaker.
Marchionne was reported to have had surgery for a shoulder problem about three weeks ago in Switzerland. Fiat Chrysler said Saturday that due to his deteriorating health Marchionne "will be unable to return to work" and found a replacement.
