Official: Luca di Montezemolo quits, Sergio Marchionne is the new Ferrari chairman

Article by Christian A., on September 10, 2014

Yesterday, the media was talking about a conflict between Fiat chairman Sergio Marchionne and Ferrari’s Luca di Montezemolo. There was a rumor regarding Luca di Montezemolo’s departure from the supercar manufacturer. Today, the rumor became real and Ferrari officially announced that Luca Cordero di Montezemolo will step down after he led Ferrari for 23 years.

As of October 13, Ferrari’s chairman will be Sergio Marchionne and it appears that he is planning to expand the company in luxury cars in order to better compete with VW Group’s Lamborghini or Bugatti.

The problem with Montezemolo was that he wanted Ferrari to remain autonomous and limit sales to about 7,000 cars per year in order to preserve the brand’s exclusive allure.

In addition, Marchionne expressed his disappointment regarding the performance of Ferrari’s F1 team saying that it is unacceptable and there is absolutely non-negotiable that Ferrari should have more F1 victories.

Speaking with close associates, Montezemolo said that Ferrari is now American and this is actually an end of an era.

“Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group.” said Luca di Montezemolo. [source: Ferrari]

If you liked the article, share on:

Comments

Recommended

It has been two years since Fiat Chrysler Automobiles started courting suitors for a potential buyout. Naturally, two Chinese automakers namely Guangzhou Automobile Group and Great Wall Motor Company have...
by - September 24, 2017
What is your favourite colour? Is your car finished in the colour that reflects your personality? Nissan recently did a study about the correlation between the colour of a person’s...
by - September 24, 2017
The BMW X2 will be the company’s next entry-level compact crossover to join the lineup. And because of that, it needs to up its game so it makes sense for...
by - September 24, 2017
Just a month ago, Wolfgang Durheimer, the former president of Bugatti, was removed from the company so he could replace Stephan Winkelmann, former Lamborghini CEO and Audi Sport boss as...
by - September 23, 2017
BMW will be launching a new Competition Package especially for the M5’s 2018 model year. While in Frankfurt, Andy Cook, BMW’s product exec has talked with Motor 1 regarding some...
by - September 22, 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