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2017-01-11 10:22

TIME TO RETIRE: Ferrari boss Sergio Marchionne says he will retire after 2018. Image: AFP / Geoff Robins

Italy - Ferrari president Sergio Marchionne says he plans to retire after 2018.

Retiring after 2018

The 64-year-old took control of Fiat over a decade ago, but his ascendance at Ferrari has been more recent in the wake of Luca di Montezemolo's exit.

But Marchionne, an Italian Canadian, said in 2014 that he will "undoubtedly" retire after 2018.

READ: F1 2017 - Ferrari's new engine could exceed 750kW

And during a news conference in Detroit this week, he confirmed that his plans to begin his retirement from early 2019 remain on track.

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