Marchionne set to step down as Ferrari boss

Date published: July 20 2018

Sergio Marchionne: Set to step down

Ferrari president and Fiat CEO Sergio Marchionne is poised to step down with a quick replacement set to be made.

According to Automotive News Europe, Marchionne was due to step down later in 2018, but a departure is now imminent because of health issues caused by a recent shoulder operation.

Meetings are to be held on Saturday to discuss his replacement, with board member and former Philip Morris chairman Louis Carey Camilleri said to be the favourite to take over as CEO of Ferrari.

Marchionne has had a significant impact on Ferrari, most recently bringing Alfa Romeo back into Formula 1 as title sponsors of Sauber.

He also been a strong voice throughout the decision-making process of the 2021 regulations, threatening to pull Ferrari out of Formula 1 if they were not to the team’s liking.

Fiat and Ferrari are not currently making any comment on Marchionne’s potential departure.

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