Chrysler is moving to start a charity in honor of CEO Sergio Marchionne. The company’s board of directors has voted to create a foundation to grant educational awards. Ronald Thompson, Chrysler’s lead director, said the charity is a fitting tribute to Marchionne and all he has accomplished since coming to the American manufacturer.
“This foundation will ensure that the values and impact of his leadership will be felt by many others,” Thompson said.
Marchionne, meanwhile, acknowledged that the charity will allow Chrysler to support causes that dovetail with the values of the company, including “the educational needs and ambitions of our employees’ children.” Chrysler will begin making its first contributions to the charity in 2013 and will award its first scholarships in 2014. You can take a look at the full press release below for more information.