Maranello, Italy - September 10, 2014, Maranello, Italy - Luca Cordero di Montezemolo has announced his intention to resign as chairman of Ferrari, effective October 13, 2014.
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Mr. di Montezemolo graduated in Law from the University of Rome in 1971, later specialising in International Commercial Law at Columbia University of New York. He joined Ferrari in 1973 as assistant to Enzo Ferrari, a position he held until 1977, and was also the company’s Sporting Director from 1974 to 1975.
During this period, he won two Formula 1 Drivers’ World Championships with Niki Lauda in 1975 and 1977, before being appointed Director of External Relations for the Fiat Group.
Ferrari took two Formula 1 Drivers’ World Championship titles during his tenure (1975 and 1977, both with Nikki Lauda).
Mr. di Montezemolo was subsequently appointed head of public relations of the Fiat Group. In 1981, he took up the post of CEO at Itedi S.p.A., the Fiat Group’s publishing division whose titles include the Italian newspaper La Stampa. In 1984, he took over at the helm of Cinzano International S.p.A. and also organised the Azzurra challenge, Italy’s first ever foray into the America’s Cup.
From 1985 to 1990 he devoted himself to the world of football as head of Italia ’90, organising Italy’s hosting of the World Cup finals. At the end of the World Cup, Mr. di Montezemolo took over as CEO of RCS Video, before making the move back to Ferrari in November 1991. Between 1997 and March 2005, he was also Chairman of Maserati S.p.A. From 2001 to 2004, he chaired the Italian Federation of Newspaper Publishers (FIEG).
Between 2004 and 2008, he also held the post of Chairman of the Association of Italian Industries, Confindustria and from 2004 to 2010 he has been the Chairman of the Fiat Group.
Mr. di Montezemolo also sits on the boards of directors of several other important Italian and foreign organisations.
Fiat CEO, Sergio Marchionne, will take over as Chairman of Ferrari.
Mr. Marchionne is Chairman and Chief Executive Officer of Chrysler Group LLC, as well as Chairman CNH Industrial N.V. He leads Fiat S.p.A.'s 20-member Group Executive Council (GEC) and serves as Chief Operating Officer of the GEC's NAFTA Regional Operations Group.
Previously, Mr. Marchionne was elected Chairman of CNH Global N.V., in April 2006 and CEO of Fiat Group Automobiles S.p.A. in February 2005. He became CEO of Fiat S.p.A. in June 2004 and has been a member of the board since May 2003. He later joined the board of directors of Exor S.p.A. Marchionne also serves as a member of the board of Philip Morris International Inc., and of the European Automobile Manufacturers Association (ACEA). ■