Ferrari's Luca Di Montezemolo leaves

The chairman of Ferrari, Luca Di Montezemolo, has announced that he is to stand down after 23 years. Details here

Ferrari’s longstanding chairman Luca Di Montezemolo has announced he is to quit after 23 years of service. Having joined the Formula 1 team in 1991 and led it through the highly dominant Schumacher years, Di Montezemolo’s exit signals the end of an era for the Italian racing outfit.

His reasons for leaving circulate around disagreements with Sergio Merchionne, the CEO of Ferrari’s parent company, Fiat. With ambitions shifting towards drastically increasing the output of its road cars and dramatically restructuring its F1 programme to end a string of bad seasons, Merchionne will lead Ferrari from Di Montezemolo’s 13 October departure, and is expected to bring drastic changes in an effort to grow the brand.

Subscribe to evo magazine

evo is 21 and to celebrate, we're returning to 1998 prices! Subscribe now to SAVE 39% on the shop price and get evo for its original cover price of £3.00 an issue, plus get a FREE gift worth £25!

Di Montezemolop said of his exit: ‘This is the end of an era after almost 23 marvellous and unforgettable years. It has been a great privilege.’ He went on to say that Ferrari ‘is the most wonderful company in the world and it has been an honour to have been its leader. I devoted all of my enthusiasm and commitment to it over the years. Together with my family, it was, and continues to be, the most important thing in my life.’

Racing success has always been central to Ferrari, with the typically brutal Italian media placing pressure on the team comparable to that experienced in the UK by England’s football squad during a World Cup. Despite having arguably the strongest all round driver on the grid, Fernando Alonso, Ferrari’s F1 team hasn’t won a drivers’ or constructors’ title since 2008.

Advertisement
Advertisement - Article continues below

With 2014 currently looking like it could be Ferrari’s worst season for 20 years, and Alonso suffering his first mechanical failure in a Ferrari since 2009 at this weekend’s Italian Grand Prix, it’s perhaps unsurprising to see F1’s most famous brand undertake such a cut-throat method of restructuring. And with rumours circulating of offers for Alonso at his 2007 team, McLaren, Ferrari can’t afford to have another bad season if it wants to challenge a dominant Mercedes in future races.

Advertisement
Advertisement

Most Popular

Visit/volkswagen/golf-gti/22866/new-volkswagen-golf-gti-leaked-ahead-of-reveal
Volkswagen Golf GTI hatchback

New Volkswagen Golf GTI leaked ahead of reveal

Following a slew of spy shots last year, a camo-free Mk8 Golf GTI surfaces online
20 Jan 2020
Visit/toyota/gt-86/202104/toyota-gt86-v-mazda-mx-5-v-abarth-124-spider-lightweight-sports-car-shootout
Toyota GT 86

Toyota GT86 v Mazda MX-5 v Abarth 124 Spider – lightweight sports car shootout

Three affordable sports cars from Japan and, er, Japan battle it out on the Yorkshire Dales
14 Jan 2020
Visit/news/202119/2020-geneva-motor-show-preview-what-to-expect-from-europes-most-important-auto-show
News

2020 Geneva motor show preview

Electrification will likely dominate proceedings, but Geneva will have plenty of performance metal to get excited about too
17 Jan 2020
Visit/features/22907/hyundai-i30-fastback-n-versus-the-col-de-turini
Hyundai i30 N hatchback

Hyundai i30 Fastback N versus the Col de Turini

We take the Hyundai i30 Fastback N up the Col de Turini, a 31km stage of the Monte Carlo World Rally Championship
19 Jul 2019