Chrysler CEO stepping down from the UBS board

Posted on Wednesday, 30 September 2009 , 12:09:14 byEmil

Filed under marchionneexecutivec.e.o.u-b-sboardresignchryslerfiatbankitalyChryslerFiatAmericanEuropean

Chrysler CEO stepping down from the UBS board

Sergio Marchionne, the new CEO of Chrysler, who reigns also over the Fiat – the new Italian parent firm, will be resigning from the directors' board of UBS Swiss bank in 2010, the financial institution reports.

The bank says Marchionne steps down for focusing better on his 'demanding management positions' at Fiat and Chrysler, although the UBS positions have been seen by the public as controversial due to the tax evasion of the bank in America.

Before Fiat got in the controlling deal with Chrysler, Sergio Marchionne is considered a good candidate for taking over this bank, that has suffered these past years because of the mortgage crisis in the air.