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Ferrari President Luca Di Montezemolo Will Resign as Formula 1 Team’s Chairman

Luca di Montezemolo will step down from his position as Ferrari chairman and be replaced by current Fiat boss Sergio Marchionne.
BBCF1 revealed on Wednesday that the Italian would be resigning from the post he has held for almost 23 years, dating back to the early 1980s: Di Montezemolo released a statement regarding his decision on Wednesday, the full version of which is provided by Pete Gill of Sky Sports: Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group. This is the end of an era and so I have decided to leave my position as Chairman after almost 23 marvellou...

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