Ferrari Chairman Reportedly Preparing to Step Down
Ferrari could be losing its leader of over 20 years.
According to a recent report, Ferrari chief Luca di Montezemolo is close to stepping down from his position at the Italian automaker due to a clash of strategy with the brand’s parent company Fiat.
Though an agreement on a severance package or timetable for his leaving have not been made, it is believed that he may step down later this year. Montezemolo has been in charge of Ferrari since 1991 and wants to maintain the automaker’s autonomous status while limiting sales to about 7,000 cars a year. Fiat Chrysler CEO Sergio Marchionne wants to use Ferrari to bolster a shift by the group into more upscale cars as part of the new merger with the Chrysler Group.
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It is being reported that Montezemolo recently told close associates that “Ferrari is now American,” and that it is “the end of an era.” Most recently, Marchionne criticized the performance of Ferrari’s Formula One team calling it “unacceptable” and iterated that “nobody is indispensable.”
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[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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