Sergio Marchionne is no longer the president of Ferrari
The president and CEO of Ferrari as well as the FIAT Chrysler group, Sergio Marchionne, has been forced to resign due to health issues. He will be replaced as CEO by Louis C. Camilleri and as president by John Elkann.
Sergio Marchionne, who led both Ferrari and the Fiat Chrysler automotive group, was supposed to step down in 2019, but was forced to leave early due to complications following a shoulder surgery that prevented him from continuing his duties.
Let’s recall that the Italian who succeeded Luca di Montezemolo in September 2014, was able, thanks to the sometimes strong pressure he exerted on the Scuderia, to make significant progress both in terms of the engine and the chassis. The businessman also enabled the name Alfa Romeo to return to F1 as part of its partnership with the Sauber team.
His departure could also alter Ferrari’s position regarding the regulatory changes planned for 2021, as well as the new revenue distribution among the different stakeholders of the discipline scheduled for the same date. Marchionne had repeatedly threatened to pull the legendary Italian team out of Formula 1 in case of disagreement on these various changes.
In its official statement, the FIAT Chrysler group indicates that Marchionne is unable to return to work while expressing gratitude for the work done so far: Regarding the health of Sergio Marchionne, FIAT Chrysler Automobiles communicates with deep sadness that, during this week, unexpected complications arose while Mr. Marchionne was recovering from surgery and these have significantly worsened over the past few hours.
« Consequently, Mr. Marchionne will not be able to return to work. The FCA Board of Directors, meeting today, first expressed its solidarity with Sergio Marchionne and his family and highlighted the extraordinary contribution, both human and professional, that he has made to the Company over these years. »
In the continuation of this official statement, the company specifies that the current CEO of Jeep, Mike Manley, will immediately take on the role of CEO of FIAt Chrysler. On the Ferrari side, FIAt heir John Elkann has been appointed chairman while former Philip Morris chairman Louis Carey Camilleri has been chosen as CEO.
Let’s hope in any case that this sudden transition will not have repercussions on the Maranello team, which is fighting for the world championship against Mercedes.
