June 1, 2018 / 8:14 AM / in 20 days

Fiat Chrysler to be in net cash position by end of June-CEO

BALOCCO, Italy, June 1 (Reuters) - Fiat Chrysler will end the second quarter in a net cash position, Chief Executive Sergio Marchionne said on Friday, kicking off the company’s five-year strategy presentation.

The 65-year-old, whose black crew neck sweaters have become his calling card, took the unusual step of wearing a tie to celebrate the milestone.

“As you can see from my arguably well tied tie we will report a net industrial cash position at the end of June,” Marchionned said. (Reporting by Agnieszka Flak and Valentina Za)

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