Ferrari chief executive Luca di Montezemolo has denied that he will take over of the troubled Fiat Group. He said he was busy enough with Maserati’s expansion plans.
Ferrari chief executive Luca di Montezemolo has denied that he will take over of the troubled Fiat Group.
CARtoday.com reported earlier this month that it had been rumoured Di Montezemolo would replace Paolo Fresco.
A long time protegé of Fiat honorary chairman Gianni Agnelli, Montezemolo is known to be well acquainted with the group structure and its people. He is also highly regarded by Italy’s Prime Minister, Silvio Berlusconi, who offered him the post of foreign minister in May 2001.
The removal of Paulo Fresco, the former General Electric vice-chairman who replaced Cesare Romiti in June 1998, would complete an overhaul of Fiat Group top management within the past year.
The changes started with the December 2001 ousting of Fiat Auto managing director Roberto Testore. In June, group chief executive Paolo Cantarella resigned.
But Montezemolo told he would not be taking charge of the fiat group. “They are only rumours. I am very busy with Ferrari, and with Maserati, which is back in the States after 12 years. It is enough for me.”
He said Maserati expected to sell about 1 000 models this year in the US of the 3 500 sold worldwide. “By the end of the year, the US will be the most important market for Maserati, as it has been for Ferrari for the last 20 years,” Montezemolo said.
Mentezemolo said that at the end of next year, Maserati would add the Quattroporte saloon to its range. It would compete against Mercedes-Benz S-class and BMW’s 7-Series.