Ferrari chairman Luca di Montezemolo has announced he is leaving his position after almost 23 years.
He said Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street, and this will open up a new and different phase which he believes should be spearheaded by the CEO of the group.
He added: "My thanks, first and foremost, to the exceptional Ferrari women and men from the factory, the offices, the race tracks and the markets across the world. They were the real architects of the company’s spectacular growth, its many unforgettable victories and its transformation into one of the world’s strongest brands.
"A warm farewell and my thanks also to all of our technical and commercial partners, our dealers across the globe and, most particularly, the clients and collectors whose passion I so wholeheartedly share."