Fiat/Chrysler CEO Sergio Marchionne steps down from UBS bank board

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Filed under: Hirings/Firings/Layoffs, Chrysler, Earnings/Financials, Fiat

Sergio Marchionne with fellow board members at a UBS press conference

Sergio Marchionne is one of the busiest people in the business. Or any business, for that matter. After comprehensively restructuring his empire - what amounts to nearly the entire Italian automobile industry and then some - he lost his right-hand man to Volkswagen. But that didn't stop him from taking over at Chrysler's headquarters and tendering bids on other automakers as well, all the while battling the bureaucracy to get it all done. But everyone's got their limits, even Marchionne, so it should come as no great surprise that the Fiat and Chrysler chief executive has announced his resignation from the board of directors of Swiss bank UBS.



The Italian industrialist, however, wasn't just filling an empty seat on the UBS board. He was elected two years ago and named vice chairman last year. In fact, he was reportedly considered as a potential chief executive for the financial firm earlier this year. But while he may be up to taking the reins of one industry in shambles, he's not looking to take on two. Neither, incidentally, is Shell CEO Peter Voser, who is also stepping down from the UBS board.



[Source: Automotive News - Subs Req'd | Image: SEBASTIAN DERUNGS/AFP/Getty]

Fiat/Chrysler CEO Sergio Marchionne steps down from UBS bank board originally appeared on Autoblog on Wed, 30 Sep 2009 08:00:00 EST. Please see our terms for use of feeds.

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