Ferrari chief quits

HIGH-PROFILE Ferrari chief executive officer Jean Todt has suddenly quit his position with the Italian company.

The Frenchman, who led Ferrari’s remarkable Formula One revival over the past decade, had only been in the job for 17 months, having relinquished the F1 job in favour of a corporate life.

He has retained his position on the board of Ferrari, maintains his positions as President of Ferrari Asia Pacific and Ferrari West Europe, and will continue to represent Ferrari’s motor sport interests at the FIA World Council.

Mr Todt has been replaced as CEO by 62 year-old Amedeo Felisa, who has been Ferrari general manager since 2006. Mr Felisa joined Ferrari in 1990 as director of product development.

Left: New Ferrari CEO Amedeo Felisa.

The changes were announced this week after a shareholders’ meeting that renewed the appointments of Luca di Montezemolo as company president and Piero Ferrari as vice-president.

Mr Todt led Ferrari through its most successful period ever on the track and helped Michael Schumacher to a record five successive world F1 championships, but stood down from the team last year and handed the reins to Stefano Domenicali.

“My commitment to the president had been to manage the company until the end of his mandate as president of Confindustria [the Italian employers’ federation headed by Mr di Montezemolo] and to indicate the new director of the sports management,” said Mr Todt.

“Having accomplished these tasks, a new phase of my life has now begun in which I will have more time to dedicate to myself and my other interests.

“Naturally I will continue to make a contribution to Ferrari in my institutional positions and in those which the president has chosen to entrust me.”

Ferrari said in a statement that it “thanks Jean Todt for the extraordinary human and professional contribution he has made over the last fifteen years of sporting success and great growth for the company of the Prancing Horse”.