Ferrari Chairman Poised To Leave Brand Over American Strategies

Ferrari Chairman Luca Cordero di Montezemolo is poised to leave the super-car maker because of a clash over strategy with the brand’s parent Fiat SpA (F), people familiar with the matter said.

Montezemolo, who has led Ferrari for more than 20 years, may step down later this year, said three people, who asked not to be identified because the discussions are private. The executive has yet to agree on a severance package, and there’s no firm timing for him to leave, they said.

Fiat and Ferrari representatives declined to comment on Montezemolo’s future. Ferrari said Montezemolo wasn’t available to comment. Ferrari’s board will meet Sept. 11 to review first-half results.

Ferrari, which is 90 percent-owned by Fiat, is a key component of Chief Executive Officer Sergio Marchionne’s plans to expand in luxury cars to better compete with Volkswagen AG, which owns Lamborghini among its stable of high-end nameplates.

dumpsty - 9/8/2014 3:02:28 PM

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Makes you wonder what kind of "disagreement" Marchionne & Montezemolo had regarding the future of Fiat, Chrys, & Ferrari.

Did Fiat want Ferrari to heavily contribute to 1-2 Chrysler halo vehicles? Or consider tweaking an existing architecture to build a 4-dr Ferrari? ...or Ferrari SUV?

...the possibilities are endless...

Vorana - 9/8/2014 4:37:48 PM

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Imagine a Ferrari 4x4 SUV based on a Town & Country.
Ferrari Town & Country ,....or a Ferrari 300M :/

nguyenvuminh - 9/8/2014 5:07:53 PM

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Chrysler, the perennial weak man of the American car mfrs, with a popular/iconic sub brand Jeep. Fiat, the perennial weak man of Europe, with the popular/iconic sub brand Ferrari/Alfa Romeo. The quicker Fiat and Chrysler go out of business, the better off will Ferrari and Jeep will be.

MDarringer - 9/8/2014 8:47:21 PM

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no one cares

chewy - 9/8/2014 10:33:46 PM

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Sometimes you have so much success that people expect even more in the future even if it all appears superfluous.

PUGPROUD - 9/9/2014 8:10:20 AM

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As plain as the nose on my face. Public parent company CEO needing to show quarter to quarter gains leans hard on its most successful division for more to make up for weakness in other areas (Fiat cars). Short term CEO needs trump everything including long term damage to brand exclusivity and high profit margins. Fiat CEO is looking at the Porsche model and over next five years you will see Ferrari four doors and SUV's pulling up at your local Taco Bell. Right strategy ? Wrong strategy ? Time will tell.

mini22 - 9/10/2014 12:04:33 AM

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Montezemolo-wants Ferrari to be a small exclusive car maker dedicated only to Ferrari and nothing else. Marchionne wants Ferrari to still be a small company but wants it to grow slightly larger as well as becoming the engineering arm of Fiat for all of it's vehicles. Montezemolo represents previous corporate thinking. Marchionne represents current corporate thinking. Sergio is going to win this one.