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Fiat shares up as Ferrari boss quits

2014-09-10 14:19:12| BBC News | Business | UK Edition

Shares in carmaker Fiat rise after Luca Cordero di Montezemolo resigned as the chairman of its Ferrari division.

Ferrari Chief Luca di Montezemolo Steps Down After 23 Years

2014-09-10 11:32:38| Automakers - Topix.net

Ferrari chairman Luca di Montezemolo has confirmed his resignation from the top post at the Italian sports car manufacturer and race team, a place he has worked at for the past 23 years. The 67-year-old explained that Ferrari is transitioning into a new era, due to the upcoming floating of parent company Fiat Chrysler Automobiles on the New York Stock Exchange, and that in this new era control of Ferrari should be in the hands of FCA CEO Sergio Marchionne.

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Fiat's Marchionne to become new Ferrari chairman after Montezemolo quits

2014-09-10 11:32:37| Automakers - Topix.net

Luca Cordero di Montezemolo will step down as chairman of Ferrari as of Oct. 13 and will be replaced by Sergio Marchionne, who also serves as the chief executive of parent group Fiat The departure of Montezemolo, announced by Fiat on Wednesday, was widely expected after escalating clashes between the two executives over strategy and the role of the luxury sports car business within the Fiat group. Fiat shares were up 2.4 percent by 0721 GMT , against a 0.1 percent fall for Milan's blue-chip index .

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