Ferrari said Monday that Maurizio Arrivabene will be the new principal of their Formula One team, replacing Marco Mattiacci just months after he had taken the job. The Italian glamour team are trying to rebuild after years of disappointment.
Last week they announced that Spanish driver Fernando Alonso was leaving and Germany's four-time world champion Sebastian Vettal would take his place next season.
Arrivabene comes from Ferrari sponsors Philip Morris International, which he joined in 1997. Mattiacci was only appointed in April, taking over from Stefano Domenicali after another poor start to the season. But his arrival failed to reverse Ferrari's woes, which also led to Luca Cordero di Montezemolo's 23-year stint as the company's chairman ending in September, with Sergio Marchionne, the CEO of parent company Fiat Chrysler Automobiles, stepping in. The company said in a statement that Arrivabene had close ties with Ferrari in his executive role at Philip Morris and had represented all Formula One sponsors on the F1 Commission since 2010. "We decided to appoint Maurizio Arrivabene because, at this historic moment in time for the Scuderia and for Formula One, we need a person with a thorough understanding not just of Ferrari but also of the governance mechanisms and requirements of the sport," said Marchionne. "Maurizio has a unique wealth of knowledge: he has been extremely close to the Scuderia for years and, as a member of the F1 Commission, is also keenly aware of the challenges we are facing. "He has been a constant source of innovative ideas focused on revitalisation of Formula One. "His managerial experience on a highly complex and closely regulated market is also of great importance, and will help him manage and motivate the team. "I am delighted to have been able to secure his leadership for our racing activities".
Marchionne also thanked Mattiacci, who was put in charge of the team after formerly holding the role of Ferrari North America CEO.
Ferrari's last world championship dates back to 2008 when they won the constructors crown.
Vettel's new team-mate, Finland's Kimi Raikkonen, was the last man to lead Ferrari to the driver's title, winning it during the first of his two stints with the team in 2007.
Ferrari came fourth in this year's constructors' championship while Alonso and Raikkonen came sixth and 12th respectively in the drivers' standings.
Later on Monday, Marchionne justified the decision to axe Mattiacci, saying Ferrari had to live up to its status as the oldest and most successful team in the sport.
"Our aim is very simple - to win back the place that belongs to us, both in the constructors and driver's championship," he said.
"We cannot make do with anything less. The Ferrari legend was built upon victories gained with tenacity, upon the ambitious to aim higher every time, upon the desire to excel both in results and in the path towards them".
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