After reportedly clashing with owner Fiat’s CEO Sergio Marchionne over the direction of the Ferrari brand as well as the recent poor Formula One performances from the racing unit, Luca Montezemolo has quit the company. Marchionne wants to expand the brand past its current 7000-car production limit and Montezemolo labels that expansion tactic as “American”, saying that “Ferrari is now American”.
Montezemolo had been the Ferrari chief since 1991.