Fiat Chrysler and Peugeot SA say investors have given their blessing to a mega-merger to create the world's fourth-largest automaker, and shares in the new company, named Stellantis, would start trading in two weeks.
Gary Jones, who has been a UAW member for 44 years, stepped down to let the union focus on its core mission of improving the lives of members and their families.
The Italian-US carmaker "has today delivered a non-binding letter to the Board of Groupe Renault proposing a combination of their respective businesses as a 50/50 merger", statement says.
The carmaker’s controlling family shareholder confirmed news reports of his death on Wednesday, without giving the cause of death or saying when he had died.
In an emergency meeting called after Marchionne’s health worsened, the Ferrari board also named John Elkann as chairman and gave Louis Camilleri powers to oversee the company’s operations.
The company denies installing devices to cheat on emissions controls from 104,000 diesels engines that it produced.
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