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Ferrari Gets a New Boss

Key Facts

Luca Cordero di Montezemolo is stepping down as the head of Ferrari in mid-October after a long tenure.He will receive a €27 million golden handshake as part of his departure agreement.Sergio Marchionne, the current CEO of Fiat, will take over leadership at Ferrari.

Luca Cordero di Montezemolo is to leave the helm of Italian sports car maker Ferrari in mid-October. Rumours about the change had been flying around Italy for a while and now they have become reality.

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Di Montezemolo, who will receive a golden handshake of €27 million, is to be replaced by Fiat CEO Sergio Marchionne.

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