Feb 26, 2015 06:30 PM EST
Marchionne Gets Boosted Fiat Chrysler Stake as Ferrari Spinoff Looms

Fiat Chrysler CEO Sergio Marchionne is one of the largest individual shareholders in the automaker after increasing his voting stake to nearly 1 percent.

FCA's chief executive, who is also chair of luxury car brand Ferrari, benefited from a stock grant plan, according to Reuters.

"Marchionne now holds 14.4 million common shares in the company, a filing this week with Dutch market regulator AFM showed, after receiving 2.3 million shares in a final installment of a stock grant program approved in 2012," Reuters reported.

FCA's stock prices have risen a whopping 75 percent since the auto group announced a spinoff for Ferrari in October. Just 10 percent of the luxury name will be available on the public stock market; the rest of FCA's stake in Ferrari will be distributed among FCA shareholders.

Fiat and Chrysler have had strong sales and a positive outlook under Marchionne's leadership. The FCA chief, who has been CEO of both Fiat and Chrysler since the latter came out of bankruptcy in 2009, has said that he will remain the automaker's leader until 2018.

Marchionne's aggressive plans for FCA's lineup include investing 48 billion euros, or roughly $53 billion, in a five-year period to make Jeep, Maserati and Alfa Romeo global brands.

He has predicted that more auto mergers will take place in the near future and even called for an auto group big enough to rival industry leader Toyota.

Marchionne is looking to build FCA into an automaker that can challenge Volkswagen and BMW.

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?



Tesla Has 'Next Big Thing' In Tech, Says Apple's Steve Wozniak

Mercedes-AMG Celebrates 50 Years With Special GT Variant 'Edition 50'; BMW Congratulates Rival With Huge Billboard

Artificial Intelligence For iPhone 8? Apple Working On Powerful Chip For Mobile Units, Self-Driving Cars

2017 iPad Pro Coming Out In 10.5-inch Variant? With Three Microphones Too?

BMW Motorrad Unveils A Sleek And Futuristic Zero-Emission Smart Scooter [PHOTO, VIDEO]