MONTEZEMOLO LEAVES FERRARI, MARCHIONNE NEW PRESIDENT

Marchionne MontezemoloMaranello – Ferrari president Luca Cordero di Montezemolo will leave the company next month as statement from Ferrari’s parent company Fiat-Chrysler report. Fiat-Chrysler CEO Sergio Marchionne will take on the Ferrari job in the immediate term.

“Ferrari will have an important role to play withing the FCA Goup in the upcoming (listing) on Wall Sreet. This will open a new and different phase which I feel should be spearheaded by the CEO of the group” declared Montezemolo.t

At the press conference today in Maranello, Sergio Marchionne declared that “There is no intention at all to integrate Ferrari into the rest of Fiat Chrysler. The success of Ferrari is mainly due to its unique brand and deeply bound to the territory of Maranello and Modena.”

Montezemolo will depart on Oct. 13 following Ferrari’s 60th anniversary celebration of sales in the United States with the lounch of a new “blue” Ferrari on limited edition of 10 pieces only for US market.