Hot topic in the motoring industry this evening is the resignation news of Luca Cordero di Montezemolo from his position as Chairman of the Italian luxury sports car manufacturer, Ferrari S.p.A. Montezemolo had released a public statement detailing his intention after being at the Ferrari’s helm for almost 23 years.
The resignation effective date, 13th October, also marks Ferrari’s newly formed parent holding company, Fiat Chrysler Automobiles (FCA), debut into the New York Stock Exchange listings, and, according to Montezemolo, is the main reason for his decision.
“Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group.” said Montezemolo in his statement.
His statement goes on to thank all the Ferrari workers in the factories, offices, race tracks and markets across the world, technical and commercial partners, dealers, clients, collectors and fan across the globe.
No statement was given on who will replace Montezemolo at Ferrari, but rumours are saying FCA Chief Executive Officer Sergio Marchionne will take over temporarily.
Enclosed is the press statement from Ferrari Chairman, Luca di Montezemolo.
“Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group.
This is the end of an era and so I have decided to leave my position as Chairman after almost 23 marvellous and unforgettable years in addition to those spent at Enzo Ferrari’s side in the 1970s.
My thanks, first and foremost, to the exceptional Ferrari women and men from the factory, the offices, the race tracks and the markets across the world.
They were the real architects of the company’s spectacular growth, its many unforgettable victories and its transformation into one of the world’s strongest brands.
A warm farewell and my thanks also to all of our technical and commercial partners, our dealers across the globe and, most particularly, the clients and collectors whose passion I so wholeheartedly share.
But my thoughts go also to our fans who have always supported us with great enthusiasm especially through the Scuderia’s most difficult moments.
Ferrari is the most wonderful company in the world. It has been a great privilege and honour to have been its leader. I devoted all of my enthusiasm and commitment to it over the years. Together with my family, it was, and continues to be, the most important thing in my life.
I wish the shareholders, particularly Piero Ferrari who has always been by my side, and everyone in the Company the many more years of success that Ferrari deserves.”
Maranello, 10th September 2014.
