Fiat Chrysler CFO takes on another position
Fiat Chrysler Automobiles NV this week announced Chief Financial Officer Richard Palmer will take on added responsibilites in 2016.
The automaker on Wednesday announced Palmer will become chief operating officer of its systems and castings operations effective Jan. 1. Palmer will retain his current responsibilities as CFO and member of the Group Executive Council — the highest decision-making body within Fiat Chrysler outside of its board of directors.
Palmer will continue to report directly to Fiat Chrysler CEO Sergio Marchionne. Palmer succeeds Riccardo Tarantini, who has elected to retire after serving more than 35 years with the company.
“We extend our sincere appreciation to Riccardo for his dedication, leadership and many contributions to the organization,” Marchionne said in a statement.
It’s not uncommon for Fiat Chrysler executives to hold several positions. It’s a part of management matrix — a complex, cross-functional, cross-business anomaly that assigns two or more roles to nearly all top-ranking executives. Marchionne is its epicenter.
Palmer has served as CFO and member of the Group Executive Council since September 2011. He spent the early years of his career in audit with Price Waterhouse Coopers and later with United Technologies Corp.
He joined Fiat Chrysler in 2003 in Comau, a global manufacturer and supplier of advanced industrial automation, and has since held various positions of increasing responsibility.