Fiat's New CEO Calls Death of Marchionne 'Heartbreaking'

The transcript covers a company's earnings call where the new CEO, Matt Manley, pays tribute to the late Sergio Marchionne. The call then shifts to business updates, highlighting a tough second quarter but improved profitability. Challenges in China are discussed, with a focus on Jeep's brand positioning and reduced capital expenditure. The company reaffirms its five-year plan and full-year targets despite uncertainties.

What was the emotional impact of Sergio Marchionne's passing on the company's new CEO, Matt Manley?

• He felt relieved.

• He was indifferent.

• He found it heartbreaking.

• He was excited.

What was one of the positive outcomes highlighted in the company's business update?

• Improved second quarter profitability

• Decreased net cash position

• Increased capital expenditure

• Loss of leadership in Brazil

Which region poses the biggest challenge for the company according to the new CEO?

• Europe

• China

• South America

• North America

What percentage of the company's sales does the Asia Pacific region account for?

• 15%

• 3%

• 25%

• 10%

What action did the company take regarding its capital expenditure?

• Reduced it to €7.5 to €8 billion

• Maintained it at €8.5 billion

• Eliminated it completely

• Increased it to €10 billion