Ferrari F1 chief and chairman of Fiat Chrysler credited with rescue of Italian carmaker dies aged 66

Sergio Marchionne, former CEO of Fiat Chrysler, has died following complications from shoulder surgery, aged 66. 

The Italian, who stepped down from his role on Saturday, had a major hand in the management of Ferrari’s Formula 1 team, negotiating its continued participation in the sport with Liberty Media.

His passing was confirmed by Fiat Chrysler holding company Exor NV today (Wednesday) via a statement from Fiat Chrysler chairman John Elkann.

It read: “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone.

“I believe that the best way to [honour] his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion.

“My family and I will be forever grateful for what he has done. Our thoughts are with Manuela, and his sons, Alessio and Tyler.

“I would ask again everyone to respect the privacy of Sergio’s family.”

Motor Sport extends its condolences to his family and friends.