Business is as usual at Ferrari, despite Montezemolo’s departure

Article by Andrew Christian, on September 11, 2014

Ferrari officially announced yesterday that its current chairman Luca Cordero di Montezemolo will step down as he will be replaced by Sergio Marchionne. There were some reports about a conflict between Marchionne and Montezemolo but the details are limited and probably we will never find out too much about this event.

When we heard about the change we decided to ask Krista Florin, Director of Communcations at Ferrari North America, if the company will stick to its 5-year business plan presented earlier this year and if any vehicles will be delayed.

Krista Florin declined to give us too many details but she said that business is as usual, which means that Ferrari will follow the 5-year business plan and the company will continue to make impressive supercars.

What we don’t know yet is if Ferrari will continue to limit the production of vehicles to 7,000 units per year as it previously announced, in order to preserve its exclusive allure.

Sergio Marchionne has a plan where he will expand the company in luxury cars in order to better compete with VW’s Lamborghini or Bugatti and we are pretty sure that things will be changed.

Regarding Montezemolo’s departure, the outgoing chairman will receive a combined severance package of almost 27 million euros and half of this sum will reach his pockets by February 2015. In return, Montezemolo agrees not to compete with Fiat until March 2017.

Topics: ferrari, ceo

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