Ferrari chairman and CEO to serve 3 more years, new board members appointed

Article by Christian A., on March 26, 2014

Ferrari has renamed Luca Cordero di Montezemolo as chairman and Amedeo Felisa as chief executive. Ferrari’s board of directors now has new members -- Harald Wester, Scott Garberding, Antonio Picca Piccon and Giorgio Fossati. They are replacing outgoing directors Gianni Coda, Christopher Gent, Paolo Monferino and Lindsay Owen Jones.

The chief executive of Fiat Chrysler Automobiles, Sergio Marchionne, remains on the board, along with three other executives: Richard Palmer, Marco Piccinini and Alfredo Altavilla. Ferrari is controlled by Fiat Chrysler. Piero Ferrari, the son of founder Enzo Ferrari, is still deputy chairman. The directors will serve for a three years from 2014-2016, Ferrari said in a statement following its annual shareholders meeting.

In the statement, Ferrari reported that it posted a 5-percent drop in vehicle sales in 2013 to 6,922 units, although it logged a 5-percent surge in revenues to EUR2.3 billion. Ferrari’s trading profit leaped 8 percent to EUR363.5 million and while net profit jumped 5 percent to EUR246 million. "Ferrari's strategy of keeping down the number of cars it builds to preserve their exclusivity and value over time has yielded excellent results," the statement said.

The California T from Ferrari is a good personification of the qualities of elegance, exclusivity, sportiness, and versatility. These characteristics are what made every California model that has been released since 1950s highly celebrated. This is a model that is overflowing will innovations and is guaranteed to meet the expectations of even the most discerning of customers.

These are customers who put a premium of experiencing a fun drive while also looking for a comfortable Grand Tourer they can drive daily. There is no question that engineers at Maranello were able to come up with a notable power unit that contains many of the classic engine qualities the brand is known for. These include acceleration that is truly powerful no matter what the speed is and have that spine-tingling sound. It also displays sharp responsiveness.

Then there is the addition of turbo technology and all the benefits that it offers like high specific power output with better fuel consumption and lower emissions. These different engine qualities are combined with the turbo technology and placed in compact dimensions to result in unmatched authentic achievement and set new standards in the industry.

Similar to the other models that Ferrari released, the California T has different revolutionary technological solutions that set it apart from the rest. The most prominent of these would have to be the new turbo-charged V8 engine. Turbo technology is not new and has long been part of the brand’s engineering tradition.

This was seen in a number of iconic models like the GTO released in 1984 and the F40 back in 1987. The technology is making a comeback and the main feature in the Prancing Horse's single-seater F1 model.

With the 2+ configuration and the retractable hard top, or RHT, the California T is truly an excellent expression of the brand’s sporty design language. These, among many other features, make the California extremely versatile.

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Topics: ferrari, ceo

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