Will Sergio Marchionne Become Ferrari's New CEO?
Ferrari is currently in the midst of one of the most tumultuous times in the company’s history. The iconic Italian automaker's racing efforts haven’t been all that successful, although the prancing horse is making a comeback for this Formula 1 season. Additionally, the management and financial aspects have gone through some large changes as well, including longtime Ferrari boss Luca di Montezemolo stepping down, the company stating it would increase production, and filing an IPO and splitting from Fiat Chrysler Automobiles. Like we said, Ferrari is going through some painful internal changes right now, and that doesn’t seem to be stopping anytime soon. According to Bloomberg, after Ferrari is spun off from Fiat Chrysler Automobiles sometime early next year, Sergio Marchionne, FCA’s CEO will take the reigns from Amedeo Felisa who is currently running Ferrari. RELATED: See More of the New Ferrari 488 GTB Here
Felisa, who has been CEO since 2008, is retiring at the end of this year, leaving his role vacant. Di Montezemolo would have probably been the choice if both he and Marchionne didn’t have a very heated, and very public battle over the right course of action for the storied nameplate. However, Bloomberg’s sources close to the Italian supercar manufacturer now are stating that Marchionne will take the helm and become CEO for pretty much everything under the current Fiat Chrysler umbrella.
Honestly though, we’re not sure that Marchionne is the right choice for the job. He already has plenty of plates to spin, with all of FCA's sub-brands. Taking on Ferrari has the very distinct possibility of watering the brand down. Exactly what di Montezemolo had fought Marchionne over.
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It’s still too early to know what will happen, and while the appointment of Marchionne as CEO seems to be a sure thing, Ferrari’s new board of directors could very easily select a new chief executive, sidestepping the Fiat Chrysler man altogether. Hopefully this doesn’t spell the end to Ferrari, or rather the dilution of what a Ferrari really is.
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