Ferrari CEO to Depart; Marchionne to Create World's Longest Business Card

by Matthew Guy

Published: April 12th, 2016

ferrari ceo to depart marchionne to create world s longest business card

Sergio Marchionne, wearer of many hats, appears poised to don yet another cappello.

Following the departure of former Ferrari chairman Luca di Montezemolo, who high-tailed it in 2014 due to clashes with Marchionne over company strategy, Bloomberg is reporting that current Ferrari CEO Amedeo Felisa is planning to retire after the nomination of a new board of directors, expected sometime this week.

Felisa does plan to stay as a board member, but this change will leave the role of CEO vacant … and we all know how much Sergio loves to be the Big Boss of Things.

It’s not unusual for car industry executives to hold multiple roles: Carlos Ghosn is CEO of both Renault and Nissan, with Daimler AG’s CEO Dieter Zetsche (aka “Dr. Z”) leading that company’s Mercedes-Benz division.

Marchionne, however, has usurped them all in terms of sheer numbers of titles on his business card. In addition to leading FCA and being chairman of Ferrari, he is (among other things) the chairman of a Swiss product-testing company, chairman of the truck group spun off from Fiat in 2011, and an independent director of Philip Morris International. Why not add temporary CEO of Ferrari to that list? Perhaps he’ll get a bulk discount on black sweaters.

Since the company’s IPO in October, Ferrari shares have dropped by about 25%. Given the generally held reason for di Montezemolo’s departure — clashes with Marchionne over plans to expand the Ferrari brand in ways he felt did not fit with Ferrari tradition — let’s hope plans aren’t afoot to goose market share by creating a Ferrari crossover or some other cash-cow abomination.

Rumours do abound of Ferrari planning a second “entry-level” GT car in addition to the California T. This is not a wholly offensive notion. After all, there is a vast gulf in the price of admission between the raucous/oddly-doorhandled 488GTB and the droptop California T.

Amedeo Felisa was in charge of product development at Alfa Romeo before joining Ferrari, reportedly becoming one of Montezemolo’s closest aides for over twenty years. Ferrari shareholders will meet in Amsterdam on April 15. Until then, no decisions have been finalized.

#488GTB #BlackSweaters #CaliforniaT #Fca #Ferrari #FiatChryslerAutomobiles #Sergio #SergioMarchionne

Matthew Guy

Matthew buys, sells, fixes, & races cars. As a human index of auto & auction knowledge, he is fond of making money and offering loud opinions.

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APaGttH on Apr 12, 2016

FCA - zombie car company kept alive like Darth Vader, powered by Jeep and to a lesser extent RAM. Everything else is just sucking the goodness and life out of the corporation.

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- Bball40dtw on Apr 12, 2016
  
  Jefferson North, Warren Truck, and Toledo Assembly have to make 75%+ of the profits for FCA globally.
  
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- Sgeffe on Apr 15, 2016
  
  @bball40dtw Cherokee outta TNAP just got greenie-weenie points in the Land of the Rising Sun.
  
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Lou_BC on Apr 12, 2016

Ferrari is going to build a performance pickup. They are going to call it the Ferrari Utility or FU for short.

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- Corey Lewis on Apr 12, 2016
  
  I'd rather have an LM002! Red please, gold badging. http://www.motivemag.com/Content/uploads/1/lm5_center.jpg
  
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