Ferrari is Considering Sergio Marchionne for CEO

Ferrari is Considering Sergio Marchionne for CEO

Sergio Marchionne, the CEO of Fiat Chrysler Automobiles, could also take the helm for the Ferrari brand.

A recent report says that Ferrari is considering appointing current chairman Sergio Marchionne as CEO once Amadeo Felisa retires in the coming months. The Italian automaker has been discussing a replacement for Felisa, who might also keep an advisory role at the automaker once he steps down as CEO. Next year, Ferrari will become an independent automaker as Fiat Chrysler will sell a 10 percent holding in Ferrari in an initial public offering this October to raise cash. The company will then distribute its remaining 80 percent stake in Ferrari to shareholders at the beginning of 2016.

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Marchionne took on the Ferrari chairman role last year when Luca Cordero di Montezemolo stepped down after spending more than 20 years at the position. The Fiat Chrysler CEO made some quick changes to the brand almost instantly, outlining the plan to separate Ferrari from parent company Fiat Chrysler as well as hiring Sebastian Vettel to replace Fernando Alonso as top driver for the Ferrari Formula 1 team.

Marchionne holds a surprising number of positions including chairman of a truck and tractor spinoff from Fiat called CNH Industrial NV; he’s also vice chairman of Exor; chairman of SGS, the Swiss product-testing company that he led before he came on to run Fiat and is also an independent director at Phillip Morris International.

[Source: Automotive News]

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