Sergio Marchionne Shares His Secrets

Posted on Mar 26, 2012 | Comments (0)

Ever wondered how Chrysler went from near-bankrupt to big success? A 60 Minutes spot explores the transition.

Sergio Marchionne, widely credited with transitioning Chrysler from bankruptcy to breakout success, shared some of his secrets with 60 Minutes this weekend. From the five cell phones he carries to his habit of working in America on European holidays and in Europe on American holidays, Marchionne clearly has plenty of workaholic ways. He's even more or closed down the upper floors of Chrysler's executive suites, preferring instead to work on the floor next to engineers. Asked why he left the penthouse suites, Marchionne answered bluntly, "Because nothing happens there."

The interview makes clear that Marchionne's overriding concern for the workers of Chrysler has been key to the company's renewal. He notes of the early days of the crisis, "There's nothing worse than to see fear in people's faces," and says of Chrysler workers, "What happened here at Chrysler would have been impossible without the commitment that they've shown."

The Dodge Dart, which begins production next month, "didn't even exist on paper in June 2009," indicating the rapid design turnaround that the new Chrysler has made possible. Marchionne's role has not necessarily been to reveal problems, but to empower people. Product design manager and Dodge CEO Ralph Gilles says, of Chrysler before the takeover, "Everyone knew what was wrong with the cars... when you give [people] the chance to do those things better you end up with a product that's more than the sum of its parts."

Do you think Chrysler has succeeded in creating such a product? Watch the video and let us know your comments!