Marchionne to become Ferrari chairman as Montezemolo quits

Marchionne (left) has clashed with Montezemolo (middle) over Ferrari's future. The two executives are pictured with Fiat Chairman John Elkann (right) after the presentation of the LaFerrari hybrid at the 2013 Geneva auto show. (Reuters)

By:

Wire reports

September 10, 2014 05:00 AM

MILAN -- Luca Cordero di Montezemolo will step down as chairman of Ferrari as of Oct. 13 and will be replaced by Fiat Chrysler CEO Sergio Marchionne, Fiat said in a statement today.

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