Friday, 12 September 2014 12:16

Ferrari Chairman Luca di Montezemolo Resigns

Ferrari chairman Luca di Montezemolo's resignation announcement on Sept. 10, 2014, will go into effect October 13.

The CEO of Fiat Chrysler Automobiles, Sergio Marchionne, will take his place.

It is believed Montezemolo's departure is due to disagreements about the future of Ferrari and its parent company, Fiat Chrysler Automobiles (FCA). Montezemolo wants Ferrari to remain exclusive, while Marchionne wants the company to grow with the FCA empire.