It is farewell for Luca di Montezemolo (above) after 23 “marvellous and unforgettable” years at Ferrari. The 67-year-old has announced that this is the end of an era for him as he makes way for Fiat Chrysler Automotive Group (FCA) chief Sergio Marchionne (below) – who assumes the position on October 13.
di Montezemolo, arguably, has been instrumental in Ferrari’s rise throughout the decades in motorsports as well as its road-going division. Starting in the 1970s as an assistant alongside company founder, Enzo Ferrari, he helped turn the brand around into a formidable name on and off the circuit.
For those who are not aware of the situation between di Montezemolo and Marchionne, the pair were already involved in a fair bit of tension after a misunderstanding of views on the future of the Ferrari brand. According to reports, Marchionne has been quoted as saying that “our mutual desire to see Ferrari achieve its true potential on the (Formula One racing) track has led to misunderstandings, which became clearly visible over the last weekend.”
The other catalyst for the falling out – perhaps even the main reason for this, is perhaps the fact that Marchionne was keen on pushing the Ferrari brand as part of his plans to compete in the luxury car market. By expanding Ferrari, FCA would be able to compete, most notably, with the Volkswagen group – which owns a stable of high-end marques under its name.
di Montezemolo, on the other hand, has insisted that Ferrari should always remain exclusive by limiting sales of its cars to 7,000 units a year – as opposed to Marchionne’s target of 10,000 units, and that it should remain as an autonomous unit within Fiat.
It would appear that even di Montezemolo has finally given in to the pressure, adding that “It’s the end of an era… Ferrari is now American.”
The date of di Montezemolo’s resignation is no coincidence as it falls on the same day that Fiat will list FCA in New York after completing a merger with its U.S. business, effectively shifting the Italian brand’s base of operations from Italy – where it has been for the past 115 years.
Attached below is the press statement from Luca di Montezemolo.
“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.”
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proton. time to start hiring.
Tata India buy Jaguar Land Rover group = become multi billion profits
Proton buy Lotus = hari hari minta duit
because TaTa gets proper and professional managers to run the company and does business clean. proton drb employs people with no background and that’s is and ll biz is under the table. only in proton they take pos Malaysia manager and make him General manager or director.
AAhahaha.I had the same thought la Mr SV (should be Superrr Value la boss,not semi-value.)Maybe we will have a Prorarri.Please correct me if im wrong,but we already have Protreon (Tiara), Renaulton (savvy/waja),Pronda (Accordana,eh actually Accordana looks good la.P1 please make if available in market please.Already booked 1M4U number.:))Kia already scored on Schreyer.Just imagine having Ferrari chairman as CEO of Proton/Lotus.Gempak!
We are talking about Ferrari, so why are you bringing P1 into this? They make legendary super sports car for selected clients, and P1 is making SV cars for the masses.
Since we are on the topic of hiring people, would it not be better for the ‘Other National Car’ P2 to hire him to change their popular by extremely boring styling?
Hyundai had hired Peter Schreyer, and their styling ‘exploded’. Maybe P2’s styling will also ‘explode’ if they hire Luca?
I thought he quit because of Deadmau5’s nyan cat Purrari.
We all remember how bad Scuderia Ferrari is doing now in F1. But we also have to remember their heydays in the early 2000s with Micheal Schumacher. All of these was under Luca’s leadership. You have ups and downs. It happens. But I guess the owners are probably fed up. Maybe they want a fresh perspective.
About FCA, yeah I kinda agree with Luca. By going for more customers (for the car division), they risk diluting the brand, which Luca himself raised from 1991 onwards as President. Ferrari cars back then were a joy to drive (as they are now), but not a joy to own (which they are now). They are a bit more practical now, but still maintains that Italian supercar mystic. Maybe FCA sees it differently, I don’t know. They are already targetting increased sales for Maserati. Maybe thats not enough.
All the best to Luca in the future. I believe he was rumoured to chair Alitalia. He may yet return to F1 as well, to replace Bernie. Haha. We’ll never know.
Well, Luca started his career in Ferrari alongside the founder himself. It’s only natural that his thinking and vision of the company would be highly influenced to his core by Enzo, which I believe is exclusiveness, Italian passion and bruteness. He has done well for the company over the past decades but nowadays I guess money speaks louder than anything and his philosophy no longer stands strong in this business era. I wish him well and Ferrari as well.
lol , dont feel bad, he probably get a retirement package, gratuity payments equal to our nations GDP
Look at how easy it is for age-old companies like Ferrari to pursue change and re-development. The right decision or not, companies like these seem to have the bold heart for it. Proton (and MAS) should learn from this. If what you have is not enough for progress, a change is required and a brave heart is needed. No room for pride and vanity.
Now do we need call it American Stallion? or Italian Stallion?
Looks like there’s gonna be a Suv in the next 5 years. Its probably the easiest way to raise sales as the Asian/American market love it.
There would probably be an entry level roadster/sportscar as well to attract those that would otherwise opt for a Bmw/Merc/VW group product.
The target is clearly Porsche, nothing could be more obvious. But they have to compare with Lambo et all…prepare for a really odd looking product line from Ferari in the next decade now that a marketing/sales guy is running it. Enzo is probably rocking in his grave…
At least Luca looks the part in a sports car company, this Sergio guy looks more like a banker. Anyway let’s see what happens to Ferrari.
FCA need to milk more profit out of the Ferrari brand just to ensure the group make enough profit for the shareholders in view of the mounting pressure from the evil empire (the VAG group) threatening to goble up Fiat-chrysler!! Hopefully they keep VAG at bay…or else, cant imagine what gonna happen to Alfa/Ferrari!…a golf/R8 in italian skin! there goes the soul of the remaining soulful automobile!
so will vgm hire this guy to make vw car less problem?
To make VW car less problem? I think if You see every car surely have some issue, not only VW. They are trying their best to overcome every issue which was faced by customer. I am sure every car maker doing the same.
i think this guy shud come to malaysia and solve the car problems, like proton, perodua and vw
It does not work that way ya. He is not a magician to come here and solve every problem within few months.
As we all Know, cars are built with complex technology, with thousands or parts. Like vw, they are doing everything they can to resolve all the technical issue and make it better. It takes time.