Ferrari CEO To Step Down Mid October - Marchionne To Take Over Brand

Luca Cordero di Montezemolo will step down as chairman of Ferrari as of Oct. 13 and will be replaced by Fiat Chrysler CEO Sergio Marchionne, Fiat said in a statement today.

The departure of Montezemolo, 67, was widely expected after escalating clashes between the two executives over strategy and the role of Ferrari within the Fiat group.

Ferrari is a key component of Marchionne’s plans to expand in luxury cars to better compete with Volkswagen, which owns Lamborghini among its stable of high-end nameplates.

TheSteve - 9/10/2014 12:15:12 PM

+1 Boost

Hopefully this change will usher in a return to making gorgeous cars again.

Yonder7 - 9/10/2014 12:36:43 PM

+1 Boost

This will allow anyone to have Ferrari...they may start to follow the steps of Maserati, BMW, Porsche, Audi and Mercedes...

mini22 - 9/10/2014 3:12:21 PM

+1 Boost

It's important that Ferrari due well in formula 1. There has been no world championship since 2008. Montezemolo has done great things for Ferrari over 23 yrs. However he has to take responsibility for it's failure to win races like or not. Further it's not hard to figure that Fiat had to change drastically to survive. Montezemolo was never really on board with Fiat acquisition with Chrysler. He probably was against Ferrari having to be taken over by Fiat in the first place. Marchionne wants Ferrari to go more in the direction of Porsche. He wants Ferrari to be the engineering company for all high performance luxury engines for Ferrari, Maserati, and Alfa. Montezemolo was probably always against this because he feels it will dilute the value of Ferrari. It's hard to say if he will be right on this. So far Porsche has been pretty successful in branching out to more mainstream models. If it can win it's fight over Audi it will be the primary engineering company at VAG.

MDarringer - 9/10/2014 11:02:11 PM

+1 Boost

Ferrari should NOT be allowed to run an a separate entity or as some boutique brand that is mired in Enzo Ferrari's megalomaniacal, psychosis. It is a brand under FCA and needs to be treated as such.

Holydude - 9/23/2014 1:48:57 PM

+1 Boost

Thank the mighty Lord he is gone! Can we have beautiful cars from Ferrari now pretty please???