Sergio Marchionne, current CEO of Chrysler and Fiat, is leaving swiss bank's UBS board of directors.
Chrysler’s new CEO, and current CEO of Fiat, Sergio Marchionne is stepping down from his position on the board of directors for swiss bank UBS next year, according to reports from the financial institution.
According to the bank, Marchionne is leaving in order to focus all his attention on the “demanding management positions” that Chrysler and Fiat needs. However, there has been rumors going around of UBS. Some positions at the bank has been seen as controversial due to the U.S. probe of possible tax evasion.
Sergio Marchionne was previously queued as a potential candidate to take over the struggling bank, which has had issues over the last couple of years due to the mortgage crisis. However with the recently controlling partnership with Chrysler, he has decided to pursue other, and better, options.
September 29, 2009
Car News