Ferrari gets a new CEO

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