Montezemolo holds on to Prancing Horse reins

FERRARI has confirmed Luca Cordero di Montezemolo as chairman of the Italian supercar marque for the next three years.

Coming as Ferrari launches its all-new, all-wheel-drive FF flagship model – the first year’s production of which (800 units) is sold out – Mr Montezemolo’s new 2011-13 term was confirmed at a board meeting held after Ferrari’s annual shareholders’ meeting in Maranello this week.

Vice-chairman Piero Ferrari and chief executive Amedeo Felisa were also confirmed for a further term, with the board now also comprising Fiat/Chrysler CEO Sergio Marchionne, designer Sergio Pininfarina, L’Oreal chairman Lindsay Owen-Jones, GlaxoSmithKline chairman (and former Vodafone CEO) Christopher Gent, Fiat Group executive Alessandro Gianni Baldi, Iveco CEO Alfredo Altavilla and his predecessor Paolo Monferino, ambassador of Monaco to China and India Marco Piccinini, Italian shoe-making billionaire (Tod’s) Diego della Valle and Emirati businessman Khaldoon Khalifa Al Mubarak.

The meeting also approved Ferrari’s 2010 balance sheet with revenue up 7.9 per cent to €1.92 million ($A2.66m) and operating profit up 26.9 per cent to €302.7m ($A420.2m). Dividends for the 2010 financial year was approved at €200 million ($A277.8m) in total.

Meanwhile, in Australia, distributor Ateco Automotive’s flagship dealership Ferrari Maserati Sydney has a new dealer principal, Greg Glyndwr, with Edward Butler – who is a former general manager for Maserati in Australia and New Zealand – leaving to become dealer principal of Grand Motors in Parramatta.

Mr Glyndwr is a former dealer principal at Audi Centre Melbourne and Melbourne City Lexus. He also worked for BMW Group Australia in 2002 as national corporate sales and special vehicles manager, moving from BMW Group New Zealand where he was national sales manager.