Fiat Chrysler may consider loyalty program for Ferrari spinoff

Article by Christian A., on December 2, 2014

Fiat Chrysler Automobiles will consider a loyalty program that hikes voting power of Ferrari shareholders when the carmaker spins off the premium sports car maker in 2015, according to FCA chairman John Elkann. A similar scheme was deployed Fiat merged into FCA this year, allowing it to rewarding its own long-term investors while benefiting controlling shareholder Exor.

Elkann is a scion of the Agnelli family who also leads Exor. FCA chief executive Sergio Marchionne disclosed in October plans to spin off Ferrari, sell a 10-percent stake in the sports carmaker through a public offering, and distribute FCA's remaining stake to its shareholders.

The spinoff would see the Agnelli family emerging as the largest shareholder in Ferrari. Should FCA proceed with the loyalty scheme, the Agnelli family could further control and expand its influence on Ferrari's future strategy.

When the announcement was made, speculations arose again on possible plans by the Agnelli family to create a cluster of luxury brands centered around Ferrari to rival groups such as France's Kering and LVMH.

Marchionne quipped in October that carmaking is "almost incidental" to Ferrari, saying that he sees the brand more as a luxury stock. Elkann, however, dismissed the idea of creating a luxury conglomerate, saying that plans entailed having Ferrari develop its own growth strategy.

If you liked the article, share on:

Topics: fiat, chrysler, ferrari, ipo

Comments

Recommended

Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 2017
Automotive industry veteran Bob Lutz has once again spoken out against Tesla. Known as one of Tesla Motors’ greatest skeptics, Lutz had stated two years ago that the Silicon Valley...
by - November 22, 2017
Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries