Directors of Fiat Chrysler Automobiles (FCA) are to meet today to discuss who will succeed Sergio Marchionne as CEO, the Italian-Canadian currently on medical leave following surgery to his shoulder.

The meeting follows reports yesterday that the 66-year-old - who was due to retire early next year - will not be returning to his role as CEO at FCA or president at Ferrari.

His most likely successor at Ferrari is Louis Carey Camilleri, former chairman of Philip Morris International and Ferrari board member, while John Elkann, a controlling shareholder at Ferrari and FCA, will likely be the new chairman, according to Automotive News Europe.

Though he has ruffled feathers at Maranello, Marchionne has been instrumental in seeing the Italian team's revival as it once again becomes a serious title contender, at the same time he has bought the legendary Alfa Romeo name back to F1.

His imminent departure will be a blow too for FCA, Marchionne having saved Fiat from near-collapse in the mid-2000s and subsequently being the driving force behind the acquisition of Chrysler.

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