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Marchionne ready to take over as Ferrari CEO

2015-08-28 10:45

READY FOR TOP JOB: Sergio Marchionne is looking forward to his new role as Ferrari CEO, ahead of the luxury carmaker's initial public offering. Image: AFP / Spencer Platt

MILAN, Italy - Fiat Chrysler chief Sergio Marchionne is preparing to take over as chief executive at Ferrari ahead of the luxury automaker's planned initial public offering later in 2015.

Marchionne is already chairman of Ferrari, which Fiat Chrysler plans to list later in October.

Read: Ferrari files for New York share listing

Ferrari CEO Amedeo Felisa, who took over as Ferrari CEO in 2008, is expected to step down ahead of the IPO, the sources said. Born in 1946, Felisa started working at Ferrari as an engineer in 1990.

UP TO 10% OF FERRARI FOR SALE

Former Ferrari head Luca Cordero di Montezemolo, who handed the mantle of chairman to Marchionne in 2014, had himself held both top management positions at the automaker for several years.

Fiat Chrysler has said it plans to sell up to 10% of Ferrari via a share offering and distribute the rest of its stake to its shareholders. The float is expected after mid-October while the separation should be completed in early 2016.

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Read more on:    fiat  |  ferrari  |  chrysler  |  sergio marchionne  |  milan

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