Ferrari chairman Luca Cordero di Montezemolo has announced he will be leaving the team after months of speculation regarding his future.
“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.”
He thanked the team who had worked with him and in particular Piero Ferrari.
He added: “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.”
