Fiat's Marchionne to Stay for Years

TURIN, Italy--Sergio Marchionne, chief executive of both Fiat SpA (F.MI) and Chrysler Group LLC as well as chairman of sister company Fiat Industrial SpA (FI.MI), will be present for many years to come, according to the head of the holding company behind the companies Thursday.

"Having spoken with him, I can say that I'm convinced that he will stay with us for many years to come," said John Elkann, chief executive and chairman of Exor SpA (EXO.MI), at the holding company's annual shareholders meeting in this northwestern Italian industrial city, according to MF-Dow Jones. Exor is the single biggest shareholder of Fiat and Fiat Industrial with a stake of slightly more than 30% in both of them.

Mr. Marchionne has previously spoken of his intention to leave Fiat in 2015.

He has overseen a major reorganization of the companies within Exor's portfolio.

He first spun Fiat Industrial off from Fiat and set about buying out minority shareholders in Fiat Industrial's U.S. unit, CNH Global NV (CNH)--an operation set to close in the third quarter.

Mr. Marchionne has also been working to complete Fiat's acquisition of Chrysler.

Fiat makes cars and Fiat Industrial trucks and tractors.

--Gilles Castonguay in Milan contributed to this article.

-Write to Alberto Chimenti of MF-Dow Jones at [e-mail]

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