Ferrari President Luca Di Montezemolo to quit after 23 years

Ferrari President Luca di Montezemolo has confirmed this morning (10/09/14) that he is stepping down from his position after almost 23 years, despite stating during the Italian Grand Prix weekend that he had no intention to leave.



Di Montezemolo's future has been the subject of much speculation in recent weeks, with rumours linking him to Italian airline Alitalia.

But following another disappointing race at the teams home race at the Italian Grand Prix at Monza, Sergio Marchionne, head of the Fiat group which owns Ferrari, described the comments as "rubbish" and made clear that "nobody is indispensable".

Di Montezemolo, who is to step aside on October 13, with Marchionne replacing him as Chairman, said the impending floatation of Fiat Chrysler Automobiles on the New York Stock Exchange prompted his departure.

To me this an end of an era of one of the most charismatic person in Formula 1 and in the car industry. Joined Fiat in 1973 was moved to Ferrari, where he became Enzo Ferrari's assistant and, in 1974, manager of the F1 team. During his involvement with the team, Ferrari won the Formula 1 Constructors Championship in 1975, 1976, and 1977, and Drivers' Titles with Niki Lauda in 1975 and 1977.

In 1991 after thirteen seasons away, appointed president of Ferrari, which had been struggling since Enzo Ferrari's death. Montezemolo made it his personal goal to win the Formula One World Constructors' Championship once again after many years of not winning titles.



And making the Ferrari road car business from heavy debts into solid profit.

Which concluded with eight Constructor Champiosnhips and six Drivers' Titles in his 23 years tenure, with Michael Schumacher and Kimi Raikkionen taking those Drivers' Titles.



And bringing blockbuster race winning drivers to the team, which includes Kimi Raikkionen, Fernando Alonso and bringing in Michael Schumacher in 1996 to bring them five Drivers' Titles and six Constructors Titles in his tenure at the team.



Not winning the Drivers' and the Constructors' Titles for the last six seasons may have cost him job at Ferrari. Overall, he did what he needed to achieve and that is putting Ferrari back into the winning circle in those two periods of Ferrari history.

Does this effect Fernando Alonso decision to stay at Ferrari for years to come? who knows.

It's an end of an era of one of the most charismatic person in Formula 1 and at Ferrari.

End of post/blog for now, new post soon. Bye.