Skip to main content

Chrysler Group LLC Chairman and CEO Sergio Marchionne answers questions from the media during an announcement that Chrysler Group will move some of its employees into the historic Dime Building and renaming it Chrysler House in downtown Detroit, Michigan April 30, 2012.


Chrysler Group LLC Chief Executive Sergio Marchionne said on Tuesday, as he has previously, that an initial public offering of company stock will not occur this year.

"This is not a 2012 event," Mr. Marchionne said on a conference call on Chrysler's second quarter earnings. Mr. Marchionne is also chief executive of Chrysler's majority owner Fiat SpA.

"We obviously have ongoing discussion with VEBA" about a possible IPO for Chrysler in 2013, Mr. Marchionne said.

Story continues below advertisement

Fiat owns 58.5 per cent of Chrysler and VEBA, the healthcare trust for Chrysler retirees run by the United Auto Workers union, owns the remaining shares.

Mr. Marchionne in early July announced the intention for Fiat to exercise a call option to increase its share in Chrysler by 3.3 percentage points to 61.8 per cent.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Please note that our commenting partner Civil Comments is closing down. As such we will be implementing a new commenting partner in the coming weeks. As of December 20th, 2017 we will be shutting down commenting on all article pages across our site while we do the maintenance and updates. We understand that commenting is important to our audience and hope to have a technical solution in place January 2018.

Discussion loading… ✨