DETROIT -- Sergio Marchionne will remain CEO of Fiat-Chrysler until at least 2017 to oversee the full merger of the two automakers and a new strategy to turn around Fiat's money-losing operations in Europe.
"In early May Fiat-Chrysler will unveil a new three-year business plan and we have agreed that Sergio will drive the company at least for the entire duration of this plan," Fiat Group Chairman John Elkann said at the Detroit auto show on Monday.
The Italian press has speculated that Marchionne, 61, could leave after the presentation of the business plan and following a long-pursued deal this month that handed Fiat full control over Chrysler.
Marchionne took the helm of Fiat a decade ago and in 2009 also started running Chrysler. He had previously said he could step down in 2015. Some analysts feared uncertainty over his future at the combined company could cloud the prospects for Fiat-Chrysler.
He now has the delicate task of listing the new company and probably establishing its headquarters outside Fiat's home country of the last 115 years.
Marchionne said on Monday that after Fiat buys the remaining stake of Chrysler -- which he hopes is completed this week -- a merger of the two companies is no longer needed. "At that point, Chrysler will be a fully owned subsidiary of Fiat S.p.A. and we then need to modify the corporate name accordingly to reflect Chrysler's long heritage," Marchionne said.