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Ferrari Chairman Luca Cordero di Montezemolo Quits
WSJ ^
| 9/10/2014
| Eric Sylvers And Joshua Robinson
Posted on 09/10/2014 7:54:23 AM PDT by God luvs America
MILAN— Luca Cordero di Montezemolo is to quit as chairman of Ferrari after 23 years at the company and just days after his boss said the luxury car brand's Formula One race results over the past six years were unacceptable.
Sergio Marchionne, chief executive of Fiat F.MI +1.43% SpA, which owns 90% of Ferrari, will take over from Mr. Montezemolo, whose departure is effective Oct. 13. That is the same day Fiat Chrysler Automobiles, a new company created out of a corporate reorganization, is slated to make its debut on the New York Stock Exchange.
Ferrari has long been Fiat's crown jewel and Mr. Marchionne has so far resisted calls for him to sell a stake in the luxury brand to raise cash that could be used to realize Fiat's ambitious five-year plan presented in May that calls for €48 billion ($62 billion) in investments.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Sports
KEYWORDS: automakers; ferrari; formula1; resignation
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shock waves in the world of Formula 1 and the auto industry.
To: God luvs America
Their performance last weekend was probably a factor.
2
posted on
09/10/2014 7:56:17 AM PDT
by
driftdiver
(I could eat it raw, but why do that when I have a fire.)
To: Chode; al_c; atc23; Bad~Rodeo; Betis70; biff; bobby.223; bobt7818; BreezyDog; brf1; briankk; ...
Ferrari Chairman Luca Cordero di Montezemolo Quits
Move Comes Days After Fiat’s CEO Said Brand’s Formula One Results Were Unacceptable
3
posted on
09/10/2014 7:56:31 AM PDT
by
God luvs America
(63.5 million pay no income tax and vote for DemoKrats...)
To: God luvs America
4
posted on
09/10/2014 7:57:01 AM PDT
by
ClearCase_guy
("Harvey Dent, can we trust him?" http://www.youtube.com/watch?v=HBsdV--kLoQ)
To: God luvs America
Out with the aristocrat, in with the technocrat. One made dreams, the other will make appliances.
5
posted on
09/10/2014 7:58:38 AM PDT
by
clintonh8r
(It's possible to love your country and hate your government. I'm proof of it.)
To: ClearCase_guy
test driver for Ferrari in the 80’s....
6
posted on
09/10/2014 8:03:02 AM PDT
by
God luvs America
(63.5 million pay no income tax and vote for DemoKrats...)
To: God luvs America
7
posted on
09/10/2014 8:07:34 AM PDT
by
driftdiver
(I could eat it raw, but why do that when I have a fire.)
To: driftdiver
OMG...zero to 100 in 4.2 seconds!! Incredible!!
8
posted on
09/10/2014 8:09:06 AM PDT
by
GoldenPup
To: God luvs America
9
posted on
09/10/2014 8:30:47 AM PDT
by
smokingfrog
( sleep with one eye open (<o> ---)
To: God luvs America
This isn’t about Ferrari....it’s a shot across the bow for Fiat Chrysler execs and engineers and to score points for the stock sales in a month!!!
To: driftdiver
Same color as the Fiat 500 I saw the other day.
11
posted on
09/10/2014 9:07:17 AM PDT
by
353FMG
To: God luvs America
1st Porsche and now Ferrari going corporate...... what’s next a Ferrari SUV?
12
posted on
09/10/2014 9:58:07 AM PDT
by
Lockbox
To: God luvs America
And with Bell joining the team is Brawn soon joining Ferrari???
13
posted on
09/10/2014 10:00:08 AM PDT
by
Lockbox
To: Lockbox
Why not? Porsche has one.
14
posted on
09/10/2014 10:02:48 AM PDT
by
ShadowAce
(Linux -- The Ultimate Windows Service Pack)
To: ShadowAce
Porsche and Lamborghini also built tractors......
15
posted on
09/10/2014 10:06:25 AM PDT
by
Lockbox
To: ShadowAce
Porsche and Lamborghini also built tractors......
16
posted on
09/10/2014 10:06:28 AM PDT
by
Lockbox
To: ShadowAce
Porsche and Lamborghini also built tractors......
17
posted on
09/10/2014 10:06:29 AM PDT
by
Lockbox
To: God luvs America
I've been a Ferrari guy since I was a kid. Loved the 348, 430, F12, and now the 458.
But I will say that when Lambo came out with the Aventador, I was smitten. Such a gorgeous auto.
18
posted on
09/10/2014 10:09:33 AM PDT
by
thefactor
(yes, as a matter of fact, i DID only read the excerpt)
To: Lockbox
19
posted on
09/10/2014 10:17:04 AM PDT
by
WayneS
(Don't blame me, I voted for Kodos.)
To: WayneS
1st Mercedes, then Porsche and now Ferrari with an SUV!
Guess time to switch to Caterham, at least they do not have the funding to develope new cars.
20
posted on
09/10/2014 10:22:24 AM PDT
by
Lockbox
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