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Sergio Marchione Death


George 2

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Sergio Marchione has died following complications from surgery. He was 66 years old. So it will be interesting to see who will head up CNH now. For the record it should be noted that Sergio Marchione (FIAT) and Jim Ketelsen (Tenneco) were the two saviors of the IH branded farm equipment. There is video clips newswire out on it for anyone wanting to add the clip.

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Suzanne Heywood has been picked to head up CNH. She like Manley is from England. There is newswire clips on her also for anyone wanting to add them. She said she will continue the programs that Marchione set up.    

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Chrysler didn't want the bail out, they forced them to take it. I understand why, but it was still disappointing. I think it would have been better to reorganize some of the debt. Several of Sergio's decisions for Chrysler I do not think will pan out. He never understood the brands or American truck audience. Still a shock for him to pass at 66. Sad to hear none the less.

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3 minutes ago, leeave96 said:

Question is - does this open the door for an AGCO aquisition of CNH?

I hope not.  They have not been friendly to brands they have acquired in the past.

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47 minutes ago, leeave96 said:

Question is - does this open the door for an AGCO aquisition of CNH?

God help us if they do try.

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I would expect out of any, perhaps a Chinese company to pick them up for a distribution network if nothing else and maybe even some domestic production to dodge some tariffs.

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I doubt it will be sold off. They are making good money for FIAT and you normally get rid of the turkeys that don't produce. That is not the case here. The Agnelli family like the smell of money and as long as CNH provides a good ROI they are OK. The alternative to privatize them in the future through a stock offering like Tenneco did in 1993 -94 still is viable if they are strong enough to stand on their own. But heavy tax to be paid by the Agnelli family wouldn't make that too attractive an option at least from my vantage point.   

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The Agnelli family are still the majority shareholders of FCA and CNH. I don’t see them selling either company.

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On 7/27/2018 at 10:13 AM, IHRedDrive said:

That was a great read. Thanks for posting it. I especially thought this was the best praise:

"He was smart enough to know what he didn't know. He promoted the right people. A brilliant, brilliant leader" according to Bob Lutz.

In my humble opinion, I think this is the rarest, and most important element of intelligence. It's what separates great leaders from people in leadership. Reminds me of a boss I used to have. I worked at a company probably three years longer than I should have, because I didn't want to leave, because I loved my boss for reasons like this.

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On 7/29/2018 at 8:42 AM, KWRB said:

That was a great read. Thanks for posting it. I especially thought this was the best praise:

"He was smart enough to know what he didn't know. He promoted the right people. A brilliant, brilliant leader" according to Bob Lutz.

In my humble opinion, I think this is the rarest, and most important element of intelligence. It's what separates great leaders from people in leadership. Reminds me of a boss I used to have. I worked at a company probably three years longer than I should have, because I didn't want to leave, because I loved my boss for reasons like this.

Agree whole heartedly. Bob Lutz has been around the car industry for decades and has seen all its ups and downs. I've read that Marchione had an intense interest in CNH and, as others have said on the forum, stayed on as CEO until his passing.

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On ‎7‎/‎25‎/‎2018 at 8:32 AM, George 2 said:

Sergio Marchione has died following complications from surgery. He was 66 years old. So it will be interesting to see who will head up CNH now. For the record it should be noted that Sergio Marchione (FIAT) and Jim Ketelsen (Tenneco) were the two saviors of the IH branded farm equipment.

You are correct George.

That's a shame, way too young. Strange that he had just stepped down July 21st. He was planning on retiring in 2019. "Fueled by 10 expressos and packs of Murratti cigarettes", probably didn't help his heath any...…..

On ‎7‎/‎25‎/‎2018 at 12:06 PM, leeave96 said:

Question is - does this open the door for an AGCO aquisition of CNH?

That would be disastrous!  Agco f*cks up everything they touch! Look at Agchem  for example, they were leader by far in row crop sprayers and after Agco buys them and fires most of the engineers that inadvertently  d**r* hires, now they're maybe 3rd or 4th.

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1 hour ago, ST-470 said:

You are correct George.

That's a shame, way too young. Strange that he had just stepped down July 21st. He was planning on retiring in 2019. "Fueled by 10 expressos and packs of Murratti cigarettes", probably didn't help his heath any...…..

That would be disastrous!  Agco f*cks up everything they touch! Look at Agchem  for example, they were leader by far in row crop sprayers and after Agco buys them and fires most of the engineers that inadvertently  d**r* hires, now they're maybe 3rd or 4th.

Given CNH most recent projected profit statement, AGCO should the ones  be concerned about an acquisition....... 

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