SUMMARY-Ferrari, Marchionne di Montezemolo in place from October 13 – Reuters Italy

SUMMARY-Ferrari, Marchionne di Montezemolo in place from October 13 – Reuters Italy

       

Luca and Stefano Rebaudo Trogni

       

MILAN / Maranello, 10th September (Reuters) – Luca Cordero di Montezemolo will leave the presidency of Ferrari Sergio Marchionne on 13 October, the date of the possible debut in the Wall Street parent Fiat-Chrysler.

       

The handover, announced this morning after days of rumors and statements, is historical. At a character, Montezemolo, Ferrari has always been linked to the events (the first time in 26 years as head of the racing team and assistant to Enzo Ferrari), takes over the man’s rescue of the Fiat group, which until now has had little to do with the events of Cavallino. From Montezemolo, the Ferrari that has characterized as an independent brand from Fiat, Marchionne will switch to that probably characterize as a prestigious brand in the service of the group.

       

Although today, during a press conference in Maranello with Montezemolo, Marchionne said that the activities of Ferrari will not be integrated with that of Fiat and Chrysler has disproved the hypothesis, so dear to the analysts, a luxury pole with Alfa and Maserati.

       

“We want to protect the integrity of reality Ferrari and not pollute it from the system automotive mass market,” he said today. The only break with the past has already been announced is to gradually increase the production to 7,000 units compared to the roof fixed by Montezemolo.

       

The fact remains that the date chosen for the change at the top has a high symbolic value. In connection with the listing in the United States, Marchionne – with the support of John Elkann – door under him even Ferrari, the best known brand in the world of the Fiat group for his achievements in F1 and coveted for its road cars. And, in the strategy of development of Fca in the United States, the presence of Ferrari in the group, which already guarantees high margins, is likely to have a non-negligible role.

        
       

BAG PREMIUM AD, BETTING ON POLO WITH FIAT AND ALFA

       

In the announcement of the bag change at the top has claimed the title Fiat, which came close to the 3%, has filed the rise on the words of Marchionne, who go out, at least for the moment, the possibility of change. Read more …