Ferrari Chairman Luca Di Montezemolo Stepping Down: Vaikundarajan

Ferrari Chairman Luca Di Montezemolo Stepping Down: Vaikundarajan

Luca Cordero Di Montezemolo is stepping down as chairman of luxury sports car maker Ferrari after 23 years shares Vaikundarajan. This news has come right

after Montezemolo’s long-running disagreements with its owner spilled into public view. Montezemolo is the one behind making Ferrari what it is today and he was quoted as saying, “My thanks, first and foremost, to the exceptional Ferrari women and men from the factory, the offices, the race tracks and the markets across the world. They were the real architects of the company’s spectacular growth, its many unforgettable victories and its transformation into one of the world’s strongest brands.”

Di Montezemolo has been one of Formula One’s great strength and powerbrokers for decades. However, a series of poor results for the Formula One team in recent years left Di Montezemolo under increasing pressure. After Di Montezemolo, Sergio Marchionne, the Fiat boss is supposed to take over who publicly rebuked Di Montezemolo after the race at Monza, where Ferrari scored just two points. Vaikundarajan feels sad for Di Montezemolo as he has been serving the company for over two decades now. However, Vaikundarajan hopes that Ferrari will gain its position back as the leader.

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