The CEO of Fiat Chrysler Automobiles (FCA) plans to step down from his position by the end of the year, the company announced on Monday.
Timothy Dolan will step down at the end the year as the automaker’s Chief Financial Officer.
Dolan will become president and CEO of Chrysler’s global finance and finance unit.
The move will be in keeping with Fiat Chrysler’s new approach toward financial responsibility and the company’s focus on the future.
Dolan has been an investor in Chrysler and will also be a director of the company, Fiat Chrysler said.
Dola will lead Chrysler’s Global Finance and Finance Team and lead the global finance operations in Europe, Latin America, Asia Pacific and Middle East.
He will be responsible for the business development and operations of the finance and financial team, the automakers said in a statement.
He previously served as Fiat Chrysler Asia Pacific’s head of financial operations and as vice president of finance for Chrysler Asia, Europe and Asia Pacific.
Dole will remain as Fiat’s Chief Operating Officer and head of the financial operations.
The automaker said Dolan is set to join the Fiat Chrysler Group in 2020.
Fiat Chrysler’s Chief Executive Sergio Marchionne, left, and Chairman of Fiat Group Chairman Antonio Forte, right, applaud during the launch of the Fiat 50th anniversary car at Chrysler’s Chrysler Assembly Plant in Auburn Hills, Mich., on Nov. 30, 2017.
(Photo: Matthew Pennington, AP)In a statement, Forte said he is proud of Dolan’s efforts to build a company that is financially sustainable.
He added that he and his team have worked tirelessly to build an amazing brand and to achieve shareholder value.
Fellow Fiat Chrysler board member and chairman Antonio Fortes, right and Chairman Tim Dolan during the unveiling of the new Chrysler 500 at the Chrysler Assembly plant in Auburn, Mich. on Nov