Maranello (Italy): Ferrari chairman Luca di Montezemolo has decided to step down from his post after heading Formula 1’s most successful team for 23 years.
“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,” di Montezemolo said in a statement Wednesday.
“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.”
The 67-year-old will be replaced by Fiat Chrysler Automobiles (FCA), majority owners of Ferrari, chief executive officer (CEO) Sergio Marchionne Oct 13.
“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,” said the Italian.
“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.”
The Italian team has not won a drivers’ or constructors’ title since 2008 and is also not fighting for the titles this season.
“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,” said di Montezemolo.
“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.”
Piero is the second and only living son of the founder of the company Enzo Ferrari and is presently vice-chairman of the firm.
