Ferrari appoints new board members; chairman and CEO stay on

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MILAN (Reuters) -- Ferrari reappointed Luca Cordero di Montezemolo as chairman and Amedeo Felisa as CEO of the luxury Italian sports car maker, which is controlled by Fiat Chrysler Automobiles.

Harald Wester, Scott Garberding, Antonio Picca Piccon and Giorgio Fossati have joined the board, Ferrari said. They replace departing directors Gianni Coda, Christopher Gent, Paolo Monferino and Lindsay Owen Jones.

Fiat Chrysler CEO Sergio Marchionne remains on the board, along with three other colleagues: Richard Palmer, Marco Piccinini and Alfredo Altavilla.

Piero Ferrari, the son of company founder Enzo Ferrari, remains deputy chairman.

The directors will serve for a three-year period from 2014-2016, Ferrari said in a statement on Monday after its annual shareholders meeting.

Ferrari said in the statement that 2013 vehicle sales fell by 5 percent to 6,922, while revenues increased 5 percent to 2.3 billion euros. Trading profit rose 8 percent to 363.5 million euros and net profit was up 5 percent to 246 million euros.

"Ferrari's strategy of keeping down the number of cars it builds to preserve their exclusivity and value over time has yielded excellent results," the statement said.

Automotive News Europe contributed to this report

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