Ferrari’s On-Track Struggles Could Prompt Shake-Up Of Corporate Board
09/08/14 Ferrari's "fall from grace is no longer just a worry on the Formula One track," according to the AP. It is "a cause for concern in the corporate boardroom, too." The events at and around the weekend’s Italian Grand Prix "appear to have set the stage as a tipping point for sweeping changes." For the first time since '08, Ferrari "failed to land a car on the podium in their home race."
Team Principal Marco Mattiacci said, "In Formula One, as in sport in general, there are days to forget and this was certainly one of them." Speculation "had been swirling" even before the weekend that Ferrari President Luca Di Montezemolo "was being forced out." Montezemolo "held court in the Monza paddock and insisted he was happy to stay."
Sergio Marchionne, the CEO of Ferrari's parent company Fiat and Chrysler, "may have interpreted Montezemolo's words as a warning linked to how big a payoff Montezemolo might demand." Marchionne: "We're not talking about him quitting but nobody is indispensable." AP