Rumor

Is Ferrari's Chairman Getting Ready to Retire?

"Nobody is indispensable." - Fiat CEO Sergio Marchionne.

Luca Cordero di Montezemolo is the man who took the reins of Ferrari after the death of the old man himself, Enzo Ferrari. He has successfully led Ferrari for more than 20 years and has overseen the debut of plenty of road cars. Under his leadership, Ferrari has also had an extremely successful F1 program (although this year’s car may be an exception to that). Yet, Montezemolo’s tenure at Ferrari may soon be coming to an end. Although there’s been no official announcement, speculation is mounting that Montezemolo is on his way out.

Neither he nor anyone else from Fiat or Ferrari has commented. So why all the retirement talk? Because tensions are reportedly increasing between Montezemolo and Fiat CEO Sergio Marchionne. If you didn’t already know, Ferrari is 90 percent-owned by Fiat, making Marchionne the granddaddy of the whole shebang. The Marchionne-Montezemolo clash was further exposed this past weekend after the former criticized Ferrari’s latest F1 record as being "unacceptable." Marchionne also isn’t happy with some of Montezemolo’s recent public statements. As Marchionne has made crystal clear, "Nobody is indispensable."

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