The Ferrari Accountant

The Ferrari Accountant

Sergio Marchionne died this summer after leading Chrysler from certain bankruptcy, and then doing the same for Fiat.  

He was a remarkable personality in the auto industry... a chain-smoking workaholic who knew not much about cars before taking over as CEO of Fiat and later merging it with Chrysler.
Marchionne did things differently, and knew what numbers to pay attention to.  

He spent money on the seemingly little things like bathrooms.  "How can you build nice cars when the employees' bathrooms are unfit for the workers?"  

While he said, "Please don’t buy our electric version of the cute Fiat 500."  He knew they lost $20 000 on each one.

But he saw the profits in Ferrari, which he spun off to be a separate company from parent Fiat Chrysler Automobiles. 

In the end, his results measured up.  After rescuing Chrysler from liquidation in the crash of 2008, he turned the company he bought for $2bn into an asset worth $84bn. 

Farewell to you Mr Marchionne.  You were fast driving even as you left your marque. 

Peter. 
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