Ferrari boss and F1 kingpin Luca di Montezemolo could replace Paolo Fresco as chairman of Fiat Group next month.
Ferrari boss Luca di Montezemolo could replace Paolo Fresco as chairman of Fiat Group next month.
Montezemolo, who has been in charge of Ferrari since 1991 and is at the forefront of the world championship-dominating F1 team, recently held discussions with members of Fiat’s controlling Agnelli family about the position.
And, according to the only obstacle to be cleared is how Montezemolo would share power with Gabriele Galateri di Genola, who replaced Paolo Cantarella in June as group chief executive.
Montezemolo, 54, a graduate in law from the University of Rome, started at Ferrari in 1973 as an assistant to the legendary Enzo Ferrari and team manager of the F1 racing team.
He later headed public affairs for the Fiat group and then ran Fiat’s publishing arm, ITEDI. He returned to Ferrari as chief executive early in the ‘90s after organising Italy’s first America’s Cup challenge and the 1990 Soccer World Cup.
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 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.
Montezemolo is no stranger to controversy. At the weekend, the Ferrari president lashed out at the FIA rule changes. He said F1 was “going around in circles because the Italian marque has worked together better than their rivals”.
He was particularly disappointed that the points difference between first and second place had shrunk from four to two points.
“F1 seems to be going around in circles,” Montezemelo he said. “The old rule was there to avoid having someone win the championship without ever winning a single race. But now the difference between in points between first and second place is too little.
“Shortly, someone will understand it’s a mistake and will change it again. I have a lot of patience, and I hope to have some more in the future,” he added.
