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Ferrari president Sergio Marchionne will stay at the team until 2021, according to Italian publication La Gazzetta dello Sport. Marchionne recently revealed that he would be retiring from the team at the end of 2018.
But Gazzetta now reveals that Marchionne "will stay at Ferrari until at least 2021, even after his planned exit from Fiat Chrysler"
The report cited official budget documents which reveal that Marchionne took no salary from Ferrari last year to go with his more than 10 million euro for running Fiat.
La Gazzetta dello Sport also quoted from an internal letter written by the Ferrari president, in which Marchionne said: "2016 was a season to forget.
"But I know that with the new technical team led by Mattia Binotto under the leadership of Maurizio Arrivabene, as well as the talented drivers Kimi Raikkonen and Sebastian Vettel, we have all the right people in place.
"The 2017 season is full of unknowns," he added, "because of the many changes in the regulations and in management, so I refrain from making predictions.
"What I can promise is that we will fight and that we have the drive, the commitment and the passion to return to the top," Marchionne said.
Fergal Walsh
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Replies (3)
Login to replycalle.itw
Posts: 8,527
Not sure if that is a good thing. Im not fond of his dramaqueenish tendencies.
Barron
Posts: 625
Oh c'mon! He's Italian! It's in their blood! (And I don't mean to be rude ?)
Ram Samartha
Posts: 1,172
Marchionne has a lot more on his plate than F1. Even though the F1 team hasn't met expectations for 2016 Marchionne and stockholders have a lot to be happy about both at Fiat Chrysler and Ferrari. Can't complain too much with both companies showing record profits.