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Thread: Ferrari chief Marchionne to step down in early 2019

  1. #1
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    Ferrari chief Marchionne to step down in early 2019

    Ferrari Chairman and CEO Sergio Marchionne has reportedly confirmed his retirement timeframe as early 2019 in an address in the USA regarding Fiat Chrysler's current position in the American market.

    Marchionne, who is currently CEO of Fiat Chrysler as well as Chairman and CEO of Ferrari, has plotted out the time before he wants to step down from the roles and is expected to announce his retirement before the start of the new financial year in 2019.

    Speaking at the Detroit Motor Show, Marchionne confirmed the news to the Detroit Free Press but it is not yet known how Ferrari will plan to replace the 64-year-old.

    Marchionne replaced Luca di Montezemolo as Ferrari president in late 2014 having led the Fiat Chrysler company back to success as top boss in 2009.

    http://m.crash.net/f1/news/236828/1/...arly-2019.html

  2. #2
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    Interesting......he(shareholders) left Ferrari to fend for itself from the FCA Group even though the FCA Group owns over 51%(I believe its 60%) stake(stock) in Ferrari. He probably sees things looming in the horizon. Fiat looks questionable in the next 10 to 15 years as a manufacturer and Chrysler too is floating with its head just above the water line.

  3. #3
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    Was hoping for him to stay till we negotiate terms with liberty once the concord agreement expires in 2020. You couldn't ask for anyone better. But he's had a hectic life without any rest for a good part of his life, so can't blame him.

  4. #4
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    Interesting.......

    Marchionne staying at Ferrari until 2021: pub. March 6, 2017

    Sergio Marchionne will remain Ferrari's president until at least 2021.

    That is the news in Italian reports including the authoritative La Gazzetta dello Sport.

    In January, we reported that the 64-year-old declared during a news conference that he will "undoubtedly" retire after 2018.

    But Gazzetta now reveals that Marchionne "will stay at Ferrari until at least 2021, even after his planned exit from Fiat Chrysler".

    The report cited official budget documents which reveal that Marchionne took no salary from Ferrari last year to go with his more than 10 million euro for running Fiat.

    La Gazzetta dello Sport also quoted from an internal letter written by the Ferrari president, in which Marchionne said: "2016 was a season to forget.

    "But I know that with the new technical team led by Mattia Binotto under the leadership of Maurizio Arrivabene, as well as the talented drivers Kimi Raikkonen and Sebastian Vettel, we have all the right people in place.

    "The 2017 season is full of unknowns," he added, "because of the many changes in the regulations and in management, so I refrain from making predictions.

    "What I can promise is that we will fight, and that we have the drive, the commitment and the passion to return to the top," Marchionne said.

    source:http://www.grandprix.com/ns/ns35872.html

  5. #5
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    2021 IS after 2018, right?
    The guy is a bona fide workaholic so no real surprise & he's even doing it for free. What a guy!
    Forza Ferrari !
    "You need great passion, because everything you do with great pleasure, you do well." - Juan Manuel Fangio

  6. #6
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    Quote Originally Posted by abbottcostello View Post
    2021 IS after 2018, right?
    The guy is a bona fide workaholic so no real surprise & he's even doing it for free. What a guy!
    That is great, we need him to fight for Ferrari in the new concorde agreement where the minor US company wants to pocket the cash themselves instead of honoraring the value of the Ferrari brand, valued as THE number one brand all categories by market researchers.

    Maybe Liberty media has no clue of marketing value, but I doubt that, they want to use the Ferrari brand for free for their own profit.

    We cannot allow that to happen.

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