Jean Todt steps down as Ferrari CEO to concentrate on GT activities

[Wouter Melissen]

This can only be good news for endurance racing enthusiasts. It looks like Ferrari will put more emphasis on their GT racing program. Seeing as the highly successful F430 program hardly needs extra attention this clearly means that the company is looking at developing new racing cars. A replacement for the 333 SP is long overdue!

Maranello, March 18th 2008 – The Ferrari shareholders’ Meeting was held today chaired by the President Luca di Montezemolo.

The Assembly approved the balance sheet and the management report which underlined the excellent results achieved by the Prancing Horse company in 2007, a year of great financial and sporting results.

The year 2007, as announced earlier this year, closed with a record balance: 1,668 million euro invoiced, 6,465 cars delivered to the final client and 266 million euro of ordinary management results are some of the main financial indicators together with the significant investment of 300 million euro in research and development for GT cars.

The Assembly also confirmed all the outgoing members of the Board of Directors for the three-year period 2008-2010. The Board is therefore composed as follows: Luca di Montezemolo, Piero Ferrari, Jean Todt, Amedeo Felisa, Alfredo Altavilla, Diego della Valle, Christopher Gent, Ferruccio Luppi, Sergio Marchionne, Paolo Monferino, Lindsay Owen-Jones, Marco Piccinini and Sergio Pininfarina.

The Board of Directors, in their immediately subsequent meeting, renewed the appointments of Luca di Montezemolo as President of Ferrari S.p.A and Piero Ferrari as Vice-President.

The Board, having taken note of Jean Todt’s wish to relinquish his position as CEO, therefore nominated as CEO Amedeo Felisa, to date General Manager of the Maranello company.

Jean Todt, as well as being a member of the Board of Directors of Ferrari S.p.A, maintains his positions as President of the Boards of Directors of Ferrari Asia Pacific and of Ferrari West Europe, and will continue to represent Ferrari at the FIA World Council.

Jean Todt will furthermore be given special appointments directly by the President in the context of GT activities and Sports Management.

Ferrari thanks Jean Todt for the extraordinary human and professional contribution he has made over the last 15 years of sporting success and great growth for the company of the Prancing Horse.

For his part, Jean Todt emphasised, “My commitment to the President had been to manage the company until the end of his mandate as President of Confindustria and to indicate the new director of the Sports Management. 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.”

Todt joined Ferrari in 1993 as Director of GES, in 2004 he became General Manager of Ferrari and then in 2006 took on the position of CEO. On January 1st of this year he handed over the position of Director of GES, which he had been holding temporarily, to Stefano Domenicali. Since Jean Todt arrived in Maranello, the Scuderia Ferrari has won 6 Drivers’ world titles, 7 Constructors’ world titles and 98 Grands Prix in Formula One.

The new CEO, Amedeo Felisa, a 62 year-old, born in Milan, joined Ferrari in 1990 as Director of Product Development. His professional growth has led him take on roles of ever-increasing responsibility culminating in 2006 with his appointment to General Manager and now his appointment to CEO.

[NicFromLA]

The return of Ferrari in GT racing can only be a good thing. HOORAY!

[Wouter Melissen]

Originally Posted by NicFromLA

The return of Ferrari in GT racing can only be a good thing. HOORAY!

Well the Ferrari F430 GTC won all three major championships last year, so they are well established in GT racing right now.

[henk4]

Originally Posted by Wouter Melissen

Well the Ferrari F430 GTC won all three major championships last year, so they are well established in GT racing right now.

Given the success rate of the F430 in combination with the current status of GT1 where a 599 GT version seems highly unlikely, it is really unclear what the added value of this move is. A 333SP type of sportscar seems almost wishful thinking, after all those were never officially run by the factory in the first place. However I am available to be surprised

[Dino Scuderia]

Related

Ramblings of Ferrari GT1 in 2009

[dydzi]

wow this is big news to me. honestly, from the beginning he wasn't a good candidate for a CEO to me... his place is in motorsports! choosing as his successor amadeo felisa isn't any surprise

[RacingManiac]

perhaps the more "GT-dized" prototype class thats on the horizon is in their sights as well?

[henk4]

Originally Posted by RacingManiac

perhaps the more "GT-dized" prototype class thats on the horizon is in their sights as well?

I am sure we will soon hear the usual suspects say that FIA and Ferrari will come up with a new GT(1?) class to specifically honour the wishes of how Ferrari wants it to be run

[mclaren_crazy]

Originally Posted by henk4

I am sure we will soon hear the usual suspects say that FIA and Ferrari will come up with a new GT(1?) class to specifically honour the wishes of how Ferrari wants it to be run

Probably, thats more or less how motorsports are run these days.

[henk4]

Originally Posted by mclaren_crazy

Probably, thats more or less how motorsports are run these days.

quite ironic that somebody with your user name is the first to react here

[Ferrer]

Ferrari 333D?

I also think that more GT involvement is a good thing.

[Zytek_Fan]

If Ferrari is to do an LMP it will be after the 2010 regulations are finalized.

[RacingManiac]

And that is the key, because by making themselves a player now, and with as big of a player as Ferrari usually is, ACO will write their finalized rules with a lot of "inputs" from Ferrari, in an attempt to get Ferrari to bite. That is how sportscar racing have always worked....

One might be able to hope that the slightly skewed rule between the petrol engine car and dieself maybe adjusted quite significantly for the new rules(probably not actually traditional petrol but rather green petrol substitute like ethanol or something rather).

[Zytek_Fan]

Would Dallara be allowed to build the chassis this time around?

[RacingManiac]

What are you referring to with that? Were they not allowed to build something before?