Fiat Chrysler Automobiles NV has announced that its Chief Financial Officer, Richard Palmer, will have more responsibilities added to his job description in the following year.

The carmaker stated that Palmer will become the chief operating officer of the company’s systems and castings operations starting January 2016. The CFO will keep his present responsibilities and stay a member of the Group Executive Council, which is the most important decision-making part of FCA after its board of directors.

Palmer will be the successor of Riccardo Tarantini, who has decided to retire after over 35 years working with the company, and he will continue to directly report to FCA’s CEO, Sergio Marchionne.

The chief of Fiat Chrysler commented on Tarantini’s departure “We extend our sincere appreciation to Riccardo for his dedication, leadership and many contributions to the organization.”

Richard Palmer’s taking on several positions is not a premiere for FCA, as the company has a management matrix that does asssign two or more job positions to its almost all top-ranking executives.

Palmer has been a CFO for Fiat Chrysler and a member of the Group Executive Council since the autumn of 2011, spending his early years of career at PricewaterhouseCoopers (the largest professional services company in the world) and then at the United Technologies Corp, a conglomerate that researches, develops, and manufactures high-technology products in different fields.

He has begun working for Fiat Chrysler in 2003 for Comau, an Italian multinational which is part of the Fiat Group and that is in charge of developing and producing process automation, manufacturing and service products.


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