Luca Cordero di Montezemolo
is stepping down as chairman of Ferrari and Sergio Marchionne,
the CEO of parent company Fiat Chrysler (FCA), is taking over,
FCA said in a statement on Wednesday. It became clear that
Montezemolo's long stint at Ferrari was close to ending on
Sunday when Marchionne publicly criticised the performance of
the carmaker's race team in Formula One in recent years.
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