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.



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