There’s a lot we still don’t know about Sergio Marchionne’s health problems before his unexpected death this week. The Fiat Chrysler CEO’s apparent wish to keep them private, even from the board, will seem problematic to shareholders, analysts and directors who prize transparency.
But barring any unexpected revelations, this doesn’t look like a corporate-governance breakdown — more a possible reminder that superstar CEOs often feel they can solve their own problems.
Speculation is rife about who knew what, and when. The rapid worsening of Marchionne’s condition after what was meant to be routine surgery, and the revelation by a Zurich hospital that he’d been seriously ill for more than a year, seem to clash with professed ignorance at the corporate level. Fiat Chrysler Automobiles NV has said it wasn’t aware of his condition, something that Marchionne’s family has confirmed, according to Bloomberg News.
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