The annual contribution over the next five years is expected to amount to a value of five million Chrysler units, with the initial contribution anticipated in December of 2013.
Chrysler Group LLC Chairman and CEO during the announcement inside the former Dime Building, now renamed Chrysler House, April 30.AUBURN HILLS, MI- Chrysler Group LLC will establish a charitable foundation in recognition of CEO Sergio Marchionne, officials announced Thursday.
The Auburn Hills-based automaker’s board of directors approved the foundation “in recognition of the leadership and outstanding dedication” at Chrysler.
“Sergio is an exceptional leader with the unique ability to inspire his people and lead change. Creating this foundation is a fitting tribute to all that has been accomplished at Chrysler,” said Lead Director of Chrysler Board of Directors Ronald L. Thompson in a statement.
The annual contribution over the next five years is expected to amount to a value of five million Chrysler units, with the initial contribution anticipated in December of 2013.
Marchionne, who also serves as CEO of Chrysler’s parent company Fiat SpA, is attributed with helping pull the bankrupt automaker “from hell” and into a profitable competitor in the global automotive industry.
In a statement, Marchionne said he is “extremely privileged and thankful to have this foundation established given the extraordinary commitment made by all stakeholders in the rebirth of Chrysler after the events of 2009.”
“The action being proposed by the Board of Directors provides an opportunity to support important causes consistent with the values of Chrysler, with an initial focus on the educational needs and ambitions of our employees’ children,” he said.
The foundation’s awards for educational support will begin in 2014 with more specific information and guidelines available in 2013.
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