Fall of Gods

Marchionne has to resign from ACEA position, otherwise Volkswagen will leave the organisation. This is not a result of the FIAT’s assets disastrous ‘financialization’ operated by its CEO, but the announcement made by the Wolfsburg group after Marchionne’s words criticizing the German giant for “being too aggressive in its pricing strategy when conditions are already tough in the European auto industry.”

AGI reports that Head of corporate communication at Volkswagen, Stephan Gruehsem, said that Marchionne is unbearable as president of ACEA and that he should resign. No FIAT reply so far.