Big changes at Ferrari

Ferrari is having a bad year in Formula 1. Mind, in living memory, they’ve probably had worse years. But with the total dominance of Schumacher era still in recent memory the big wigs demand success and they aren’t happy with what they’re seeing. And by big wigs, we mean, big wigs.

There’s not too many people higher than Ferrari President Luca di Montezemolo, but Sergio Marchionne, boss of parent company Fiat, is one of those men. And he has spoken.

The pair have had a public spat in the wake of a terrible Italian Grand Prix. As a result Luca di Montezemolo is leaving Ferrari. The legacy he has left for the road and racing cars from Maranello cannot be underestimated and this is a massive day for the company.

“Ferrari is the most wonderful company in the world,” di Montezemolo said. “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.”

Sergio Marchionne will step in as the boss of the F1 team after di Montezemolo departs in mid-October. This change follows the removal of Stefano Domenicali earlier this year.

Marchionne has put his money where his mouth is, his reputation is at stake here, and he’d better hope he can deliver the results he demands.

Montezemolo: This is the end of an era

• “I leave after 23 unforgettable years”

Maranello, 10th September 2014 – “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.”