[RavenAvi]

Fiat Chrysler Automobiles' Chief Executive, Sergio Marchionne, is now the new CEO of Ferrari, effective immediately.

He takes over from Amedeo Felisa, who retired from the company after 26 years at the helm. However, Felisa will continue to serve on Ferrari's board of directors with what the automaker described as a "mandate" to act as technical adviser to the company.

Marchionne will also continue to be the CEO of Fiat Chrysler Automobiles and also chairman of CNH Industrial, a global manufacturer of agricultural equipment.

(Marchionne on left, Felisa on right)

Marchionne was named CEO of Ferrari on Monday as the automaker announced its most profitable quarter ever and reported a 15% increase in sales.

"I was the one that pitched the Ferrari case on the road. It’s not going to be a different case than the one that I presented to the capital markets at the end of last year," Marchionne said. "We are beginning, just now, to define the true potential on the passenger car side of what this house can actually deliver."

Ferrari's first-quarter net profit increased 19% to 78 million euros ($89.5 million). That compares with 65 million euros in the same period last year.
Marchionne said the improvement was due both to a reduction in costs and an increase in sales. Ferrari sold 1,882 cars during the first quarter, a 15% increase over the same period last year.

On Monday, Marchionne said demand for the company's cars remains far above its sales.

“The order books remain incredibly strong," Marchionne said. "We are booked well into 2017 now," for the Ferrari 488 and the Ferrari Convertible.

Wall Street Journal
&
Detroit Free Press

[Omkar]

Mr. Sergio Marchionne is now the Chief Executive Officer (CEO) of Ferrari. Mr. Amedeo Felisa, who served as the CEO for the past 26 years, will remain on the company's the Board of Directors and continue as a technical advisor to the company.

Mr. Marchionne will assume his position as CEO while continuing to serve as the Chairman of Ferrari. He took over the role of Chairman in 2015, replacing Luca di Montezemolo. Mr. Marchionne is also the current CEO of Fiat Chrysler Automobiles.

Ferrari was a part of Fiat Chrysler Automobiles. In 2014, it became an independent company, believing that it would do better in terms of profits if it was on its own. Ferrari has registered its most profitable first quarter in 2016 with a 15% increase in sales over the previous year.

Source: Detroit Free Press

[GTO]

Don't think Sergio has the time. He already has his hands full with Fiat & Chrysler.

Ferrari needs the full-time attention of one boss and my favourite will always be Luca di Montezemolo. Under his leadership, Ferrari saw some fantastic cars and also its best motorsport years. A full-time CEO & chairman with similar style, management skills & passion would be awesome.

[MadiMaama]

I would have loved to see Stefano Domenicali leading Ferrari. Good luck to Marchionne and as GTO said Mr Marchionne may not get enough time to focus on Ferrari