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

Famous designer of certain Ferrari vehicles like the Enzo Ferrari and the P4/5, Ken Okuyama has revealed another one of his designs at the 2017 Pebble Beach Concours over the...
by - August 21, 2017
The current generation of the BMW M3 (F80) sedan isn’t just sporty and luxurious in terms of looks, but also in terms of performance. Because of its athletic appeal, the...
by - August 21, 2017
A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 20, 2017
A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 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