In 2004, a year after the death of its legendary chairman Gianni Agnelli, the Italian automotive group was saddled with debt, bleeding about €1bn ($1.6bn) a year in cash, entangled in an unhappy relationship with General Motors, and badly in need of a turnaround.
But in June that year Sergio Marchionne became chief executive and the turnround began.
Mr Marchionne extracted Fiat from the GM alliance, cut costs, streamlined production and reorganised the firm around its core brands, returning it to profitability.
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