Ex-Ferrari chairman flying to Alitalia

MILAN, Italy - Italian newspaper Il Messaggero says Ferrari's long-time, now-ex, chairman Luca Cordero di Montezemolo, is heading to Alitalia as the airline's chairman.

The newspaper says the Italian airline's board designated Montezemolo during a meeting on Wednesday (Nov 5) and confirmation by shareholders is expected later in the month. Alitalia's media office declined to comment on the report.

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Alitalia is reshuffling its management after a takeover by Emirates-based Etihad. Il Messaggero said Etihad CEO James Hogan would be Alitalia's vice-chairman.

Etihad has bought a four percent controlling stake in Alitalia, making it the largest shareholder alongside a consortium of Italian entrepreneurs and banks.

Montezemolo resigned from Ferrari in October 2014 after decades at the helm in a spat with the CEO of Fiat Chrysler Automobiles, which owns the high-end sports-car maker.