Why Sweaters? Because Marchionne Declines Chrysler 2011 Salary, Bonus

Marchionne 1 photo
Photo: Fiat Group
We’ve always wondered why Fiat Group and Chrysler Group CEO Sergio Marchionne always wears black pants and blue or very rarely green sweaters. Some of you may thing it’s because he’s humble, and some upon reading the title of this article will think we’re going to say it’s because he doesn’t have any money. But no, it’s because he’s humble in this respect and others.
Automotive News recently reported that Marchionne has declined his Chrysler CEO bonus and salary for 2011, as the Automaker struggles to repay $7,6 billion in loans. Of course he still earns money as CEO of Fiat.

Things are looking up for Chrysler in the US, as the automaker grew faster than the overall market last year, jumping 24,3 percent. We have confidence in Marchionne the perfectionist, but fear he might be a bit stretched thin.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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