MARANELLO: Ferrari chairman Sergio Marchionne will also become the luxury carmaker’s chief executive after Amedeo Felisa’s decision to retire, the company said in a statement on Monday.
Felisa’s departure was expected for months after sources said last August that the executive born in 1946 was getting ready to retire. Felisa, who previously headed product development at Alfa Romeo, joined Ferrari in 1990 and became its CEO in 2008.
Marchionne will assume the CEO responsibilities at the Italian luxury group while retaining his current role as chairman. Felisa will continue to serve on the board of directors as technical advisor to the company.
Combining the chairman and CEO jobs is not a first for Ferrari, as Luca Cordero di Montezemolo held both posts for several years.
Ferrari said it expected to report 2016 adjusted earnings before interest, tax, depreciation and amortisation of at least 800 million euros (RM3.6bil) on shipments of more than 7,900 vehicles.
Marchionne, who is also CEO at Fiat Chrysler, has sought to position Ferrari as a luxury goods business in a bid to replicate the high-flying stock market valuations of companies such as Hermes and Prada.
Keyword: Marchionne to become Ferrari CEO as well