Fiat Chrysler Announces New COO for China, Asia Pacific
Fiat Chrysler Automobiles on Thursday has named Daphne Zheng and Paul Alcala as its new Chief Operating Officers in China and Asia Pacific, respectively.
Zheng is among the early veterans of the company with an eight-year employment record. Prior to her promotion, she served as the managing director of sales at Guangzhou Automotive Group (GAC) in China.
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Money Control reported that Mike Manley, the current COO of the Asia Pacific, will continue to serve Fiat's executive council and as head of the Jeep and Ram brands globally.
"This leadership appointment will ensure that Manley can now focus his efforts on our growth plans for both the Jeep and Ram brands globally," CEO Sergio Marchionne said, who is positive that Fiat has a great chance to achieve its 2018 target.
He explained that Fiat has a more than 50 percent chance of realizing its goal to get 136 billion euros ($144 billion) of revenue and an adjusted net profit of between 4.7 billion euros ($5 billion) and 5.5 billion euros ($5.86 billion) by the end of next year.
Reuters reported that Fiat Chrysler did comment on Marchionne's remark.
The company increased its targets for 2018. It also adjusted its predicted operating proft to 9.8 billion euros ($10.4 billion) from 8.7 billion euros ($9.27 billion) and operating margins to 7.2 percent to 6.4 percent.
However, analysts are in doubts whether the set out targets are still achievable following the upgrade.
Marchionne has announced earlier this week his plans to retire in 2018.