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Lee Iaccoca, who passed away last July, became a legend in the US auto industry by becoming (1978) the CEO of a Chrysler in the midst of its collapse and turning it around (with a billion dollar boost from the government…).<\/p>\n
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But the company’s independence ends with a merger of equals that sees Daimler effectively take control of Chrysler. The conclusion of a real managerial success (!), as many German-American mergers have been (see Walmart and InterSpar or Procter & Gamble and Wella…), Daimler sold 80% of its shares in 2007 on the basis of a total value of 10 billion dollars, while its investment cost it a total of 36 billion.<\/p>\n
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From Chapter 11 to takeover, Chrysler fell into the lap of Fiat, first partially in 2009, then totally in 2014, the group becoming Fiat Chrysler Automobile (FCA).<\/p>\n
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Recently, the announcement was made of a merger between equals (always!) between FCA and PSA (Peugeot and Citro\u00ebn brands). Thus, subject to the approval of the competition authorities, Chrysler will be part of an American-Italian-French cocktail of 170 billion Euros in turnover.<\/p>\n
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To spice things up, one of PSA’s significant shareholders, of Chinese origin, is called DongFeng (literally “East wind”), but is expected to reduce its stake in the final scheme.<\/p>\n
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Sharing industrial facilities and R&D costs, pooling risks and having a global footprint is clearly in the spirit of the times and a good illustration of the concept of critical mass.<\/p>\n
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But it is also a delicate implementation exercise. Will the sailing be smoother between now and 2024, on the occasion of the celebration of the centenary of the founding of the firm by Walter Chrysler … and the birth of Lee Iaccoca?<\/p>\n
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Lee Iaccoca, who passed away last July, became a legend in the US auto industry…<\/p>\n","protected":false},"author":2,"featured_media":1322,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-public"],"acf":[],"yoast_head":"\n