You won't be seeing Sergio Marchionne in his famous sweaters running day-to-day operations of Fiat Chrysler Automobiles from Michigan. Although, he won't be doing it from Italy, either. The FCA CEO recently announced that the company's corporate headquarters would be located in London.

"Headquarters will be in London. It's clear that group executive functions, the board, my office, some of my functions, need to operate out of London, but that doesn't mean that I'm giving up my operational responsibilities of the US," said Marchionne to Automotive News at a press conference.

When the creation of FCA was announced, the company said its tax domicile would be in the United Kingdom. But it gave no specific location at that time. The business is still keeping most of the details under wraps.

Chrysler spokesperson Gualberto Ranieri did confirm to Autoblog that the move to London will happen "later this year." FCA board meetings will be held in London, as will some corporate functionals. "But that will not mean that Mr. Marchionne will give up his operational duties in the US, including his office in Auburn Hills," Ranieri said.

Industry analysts speaking to AN say that the London location makes sense from a strategic standpoint. It doesn't show any bias between Chrysler in Auburn Hills or Fiat in Turin.

Marchionne is also fighting against investors' skepticism about FCA's recently revealed five-year plan. After the stock fell 12 percent, he and chairman John Elkann bought 130,000 and 133,000 shares respectively of Fiat stock to show their support, according to AN.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • 2015 Toyota Highlander
    MSRP: $29,765 - $44,140
    2015 Jeep Grand Cherokee
    MSRP: $29,995 - $64,895
    2015 Honda Accord
    MSRP: $22,105 - $33,630
    2015 Honda Civic
    MSRP: $18,290 - $26,740
    2015 Mazda Mazda3
    MSRP: $16,945 - $25,545
    Share This Photo X