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This is CRAZY, I never though this day will happen and happen so suddenly too.
Di Montezemolo confirms Ferrari exit
Just days after saying he is ready to stay on as Ferrari chairman for another three years, Luca di Montezemolo has announced he is to step down.
The Italian, who has been in charge of the legendary outfit for more than two decades, on Saturday denied reports that he is set to leave Ferrari as the team look to turn around its fortunes.
However, less than 24 hours later Fiat head Sergio Marichonne issued a warning to the 67-year-old saying that the team's current slump is unacceptable asthey are in the business to win.
Di Montezemolo, though, ended speculation about his future on Wednesday by confirming he is stepping down from his role with the car company and Formula 1 team.
"Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street," he said. "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."
Marchionne will replace Di Montezemolo, who leaves the role on 13 October
http://www.planetf1.com/news/3213/9463178/Di-Montezemolo-Confirms-Ferrari-Exit
Di Montezemolo confirms Ferrari exit
Just days after saying he is ready to stay on as Ferrari chairman for another three years, Luca di Montezemolo has announced he is to step down.
The Italian, who has been in charge of the legendary outfit for more than two decades, on Saturday denied reports that he is set to leave Ferrari as the team look to turn around its fortunes.
However, less than 24 hours later Fiat head Sergio Marichonne issued a warning to the 67-year-old saying that the team's current slump is unacceptable asthey are in the business to win.
Di Montezemolo, though, ended speculation about his future on Wednesday by confirming he is stepping down from his role with the car company and Formula 1 team.
"Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street," he said. "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."
Marchionne will replace Di Montezemolo, who leaves the role on 13 October
http://www.planetf1.com/news/3213/9463178/Di-Montezemolo-Confirms-Ferrari-Exit
