Report: Ferrari CEO to retire, succeeded by Marchionne

April 13, 2016

Ferrari chief executive Amedeo Felisa is reportedly planning to retire in the near future.

The executive is believed to be planning to vacate the role after shareholders vote on board appointments, sources have told Bloomberg. He is expected to retain his seat on the board.

Ferrari chairman Sergio Marchionne is Felisa’s presumptive immediate successor. It is unclear if he plans to hold the reins indefinitely, or serve as an interim fill-in while the Prancing Horse explores other potential candidates.

Marchionne currently serves as CEO of Fiat Chrysler Automobiles, and as a board member or director for three other companies. He spearheaded Ferrari’s spinoff from FCA in October.

It is unclear if Felisa’s retirement is related to previous executive disagreements over the company’s future. Former chairman Luca di Montezemolo resigned amid a public spat with Marchionne. The veteran argued in favor of a 7,000-unit annual production cap to maintain exclusivity. After taking over as chairman, Marchionne quickly moved to raise output to 9,000.

Ferrari shares have declined by approximately 30 percent since the initial public offering in October.

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