Indeed. Ultimately it's the (specific incarnation of the) shareholder model of capitalism that's at fault. Shareholders have ultimate control of companies, and their incentives are aligned all wrong (to the short term).
This is actually not true of individual shareholders; most individual shareholders are investing for the long term, because most individual shareholders are investing for a long-term goal, like retirement.
The problem is that most shares in most companies are no longer owned by individual shareholders, but mutual funds, and from the standpoint of an individual stock, a mutual fund does have short-term incentives, since if the stock's performance goes down the fund will just sell it and buy something else. The individual investors whose assets are held by the mutual fund, and who have a longer time horizon (most mutual fund accounts are retirement accounts), don't care about which individual stocks the fund holds or how often it trades them. So the longer time horizon of the actual individual investors is masked and only the short term incentives are visible to the individual companies.
Do any mutual funds ever beat the market? (on the "retirement" decades time scale)
I don't think the problem is either Arrivabene or Binotto - it was Marchionne and it's going to take a long time to fix.
For all the credits to Binotto, he's not a good negotiator.