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Ferrari CEO to step down

By Damion Smy, 17 Jul 2015 Industry

Ferrari CEO to step down

Executive clean-out at Ferrari set to continue with expected retirement of Amedeo Felisa

Executive clean-out at Ferrari set to continue with expected retirement of Amedeo Felisa

REPORTS from Italy suggest that 69-year-old Amedeo Felisa is about to announce his departure from Ferrari.

No official announcement has been made, but the rumours that the Ferrari CEO is leaving – or has indeed already resigned – continue to circulate.

This has kicked off spiralling speculation for the reasons Felisa may exit Ferrari, particularly in the wake of former Ferrari chairman Luca Di Montezemolo’s ousting only 10 months ago by Fiat Chrysler Automobiles chief Sergio Marchionne.

With Montezemolo’s 23 years as Ferrari president – and the success in both Formula One and the road-car division under his leadership – his removal shows Marchionne, 63, as a ruthless leader with little regard for legacy and history, evidenced by his callous behaviour towards Montezemolo in front of the media at last year’s Paris motor show.

Felisa may also have fallen victim of Sergio’s whim. He had been expected to replace Montezemolo as president, but instead Marchionne himself took up the role.

Felisa joined Ferrari in 1990 as head of product development, rising to become general manager in 2006. He has been Ferrari CEO since 2008, replacing Jean Todt, the Frenchman who led Ferrari to five consecutive F1 World Championships with Michael Schumacher.

The timing of Felisa’s exit, if it is indeed true, comes as Ferrari prepares to list on the New York Stock Exchange, Marchionne valuing the company at “at least” $US11billion ($A14.8bn).

Earlier this week, the FCA boss told media the listing was merely “days away”, at the same time ruling out a potential merger with General Motors.

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