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Luca di Montezemolo quits Ferrari F1 presidency // Chief of the Italian team steps down after 23 years

Published by Christine

Luca di Montezemolo quits Ferrari F1 presidency
Credit: Foto Studio
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Luca di Montezemolo was in great demand over the Italian Grand Prix weekend as many were anticipating a retirement announcement from the Ferrari president. However, Di Montezemolo played it coy and said if there was anything to confirm, he would do so in his own time. That explains why only three days later, it was revealed he would, in fact, be quitting his role as the head of the Italian team.

“This is the end of an era after almost 23 marvellous and unforgettable years. It has been a great privilege,” Di Montezemolo said. Ferrari have endured season after season of disappointing results and have been searching for a title since 2008. Luca’s step down from the presidency comes after ongoing arguments with the CEO of parent company Fiat, Sergio Marchionne. Immediately after Luca’s denials at Monza, Sergio was keen to say things might not be quite that simple. Marchionne takes over the presidency with immediate effect.

Di Montezemolo continued: “It is the most wonderful company in the world and it has been an honour to have been its leader.”