[email protected] ®Detroit AutoScene ® “FIRSTINTHEHEARTOFDETROIT” VOL. 86 NO. 21 ESTABLISHED 1933 AS NEW CENTER NEWS AND 1983 AS OAKLAND TECH NEWS JUNE 4, 2018 Marchionne Unveils His Final FCA Plan Before Retirement BALOCCO, Italy (AP) – In his nificant part of our revenues,” at merger with bankrupt U.S. car- last big presentation as CEO of Fi- Marchionne said. Plans for the maker Chrysler and the spin-offs at Chrysler before retiring next brands relied heavily on adding the industrial vehicle business year, Sergio Marchionne said electrified powertrains, a tech- and sports carmaker Ferrari. June 1 that the Italian-American nology where Fiat Chrysler has The 65-year-old Italian-Canadian carmaker will this month hit its lagged. has his successor as CEO will long-held goal of having no debt Notably absent were the mar- come from within the company. as it turns its focus to making quee brands: Fiat and Chrysler, In a break from fashion tradi- more electrified cars. which both represent the less- tion, Marchionne unzipped a knit As he announced the compa- profitable passenger cars cur- cardigan to reveal a blue tie - the ny’s five-year plan, Marchionne rently off consumers’ radar, par- first, he said, he has worn in a broke with personal style and ticularly in the United States, decade. It is a gesture he had donned a tie instead of his signa- where Fiat Chrysler makes more promised if Fiat eliminated debt, ture sweater, as he said he would most of its profits, but also in which he said will happen by the if the debt target was reached.