Fiat Chairman says Marchionne to stay for at least 3 years

DETROIT/MILAN Mon Jan 13, 2014 8:35am EST

DETROIT/MILAN Jan 13 (Reuters) - Sergio Marchionne will remain at the helm of Fiat at least for the three years necessary to oversee the completion of the car maker's next business plan, Chairman John Elkann said on Monday.

The Italian press has speculated Marchionne could leave after the presentation of the business plan in April or May following a long-pursued deal this month that handed the Turin-based group full control over its U.S. unit Chrysler.

Speaking to journalists in Detroit, Elkann said Marchionne would not be replaced for another three years at least.

Asked about Marchionne's succession, Elkann said: "Not before three years."

Marchionne had earlier said organisational details and where to locate the legal headquarters of the merged company would be discussed at a Fiat board meeting on Jan. 29.

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