Date coincides with when FCA plans to list on New York Stock Exchange
It’s official: Montezemolo will step down from his leadership roll, effective October 13, and Sergio Marchionne will become the new chairman of Ferrari, Automotive News reported today.
The sometimes outspoken executive of the Prancing Horse was rumoured to be seen driven away from the Modena headquarters yesterday in the back of a Maserati.
Luca di Montezemolo, who has been the head of Ferrari since 1991, has butted heads with Marchionne. The two have been at odds over how Ferrari will fit under the new Fiat Chrysler Automobiles umbrella, with Montezemolo looking to keep Ferrari semi-autonomous from the rest of the group. Marchionne wants Ferrari to help with FCA’s aspirations of taking on Volkswagen to combat Lamborghini.
In a separate statement, Montezemolo said, “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.”
Last weekend, at the Italian Grand Prix in Monza, Marchionne stated “nobody is indispensable,” referring to Montezemolo.