Ferrari chairman and chief executive officer Sergio Marchionne has stepped down from his roles due to ill health, the company has announced.
The 66-year-old, who was due to depart the company in April next year, has been on leave following surgery on his shoulder last month. However the company said in a statement on Saturday it has “learned with deep sadness” that Marchionne “will be unable to return to work.”
“The board’s thoughts are with Sergio Marchionne and his family and it is grateful for the extraordinary contribution he has made in recent years at the helm of Ferrari,” it added.
RaceFans understands an acute health condition has motivated the decision to bring forward his departure.This was alluded to in a further statement from Fiat Chrysler Automobiles: “With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. communicates with profound sorrow that during the course of this week unexpected complications arose while Mr Marchionne was recovering from surgery and that these have worsened significantly in recent hours.
Ferrari has named John Elkann as its new chairman and Louis Carey Camilleri as CEO.
Elkann is the grandson of former Fiat president Gianni Agnelli and CEO of the Agnelli/Elkann-owned holding company Exor, which owns Ferrari. Elkann said he was “profoundly saddened to learn of Sergio’s state of health.”
“It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice,” he added. “My first thoughts go to Sergio and his family.”
Camilleri, 63, is a former chairman of Philip Morris International, Ferrari’s main sponsor and producer of the Marlboro cigarette brand. Ferrari team principal Maurizio Arrivabene was previously a vice-president at PMI.
Camilleri has also been entrusted with “the necessary powers to ensure continuity of the company’s operation”, Ferrari added.
Marchionne, who has run the Fiat-Chrysler Group since 2004, took over from Luca di Montezemolo as Ferrari chairman in October 2014. Since that win-less season the F1 team has become increasingly competitive. Sebastian Vettel challenged Lewis Hamilton for the drivers’ championship last year. Vettel is leading the drivers’ championship and Ferrari are ahead in the constructors’ championship too.
Under Marchionne the Alfa Romeo brand, which like Ferrari is also owned by Fiat Chrysler, returned to Formula 1 this year as Sauber’s title sponsor.
He has also played a significant role in ongoing discussions with Formula 1 owners Liberty Media. Marchionne threatened to pull Ferrari out of the sport if he did not agree with Liberty Media’s plans for the championship after 2020.
Elkann said it has “been my privilege to have had Sergio at my side for all these years.”
“I would ask everyone for their understanding in these circumstances and to respect Sergio’s privacy and that of those who are dear to him.”
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Mike
21st July 2018, 18:14
Steps down because of shoulder surgery? Doesn’t make sense….
David Not Coulthard (@davidnotcoulthard)
21st July 2018, 18:24
He was otherwise going to step down next year anyway, so that might be part of it.
Tifoso1989 (@tifoso1989)
21st July 2018, 18:36
@davidnotcoulthard
The news coming from Italy are suggesting that his conditions got worse in the last hours.
Phylyp (@phylyp)
21st July 2018, 18:45
I hope its not as serious as a life/quality of life issue?
bosyber (@bosyber)
21st July 2018, 19:51
To me it really does sound like exactly that @phylyp
Dieter Rencken (@dieterrencken)
21st July 2018, 20:25
Step down from FCA next year, but not Ferrari; indeed, he had big plans for an expanded role at Ferrari after his retirement from FCA.
formevic (@formevic)
21st July 2018, 21:09
Step down from Ferrari too, start today. It’s been an emergency change today by a board sudden meeting. Marchionne is in serious life threatening.
formevic (@formevic)
21st July 2018, 21:11
Dieter, yes it’s step down from Ferrari too, start today. It’s been an emergency change today by a board sudden meeting. Marchionne is in serious life threatening.
formevic (@formevic)
21st July 2018, 21:13
Sorry for double post, connection problem..
David Not Coulthard (@davidnotcoulthard)
22nd July 2018, 6:42
@dieterrencken Ah that makes sense. I hope he’s alright.
@formevic No he meant he was supposed to have a bigger role at Ferrari after stepping down from FCA
formevic (@formevic)
22nd July 2018, 8:34
@davidnotcoulthard thank you for clarification.
Ferrari board talked of a definitive change, same as far FCA helm. Bad omen for Marchionne.. best wishes to him
pastaman (@)
21st July 2018, 19:01
Perhaps he contracted an infection due to the surgery.
mog
21st July 2018, 23:08
Surgery complications can be serious and life threatening even if the surgery itself appears simple and routine, such as a shoulder reconstruction etc.
Given the man’s age, it isn’t really that surprising. shocking and sad yes but not really surprising
Phylyp (@phylyp)
21st July 2018, 18:21
Whoa, that’s unexpected. I wonder what John and Louis’s views are on Ferrari in F1.
Tifoso1989 (@tifoso1989)
21st July 2018, 18:33
@phylyp
As for John his view of F1 should be very well aligned with Marchionne’s view since he has been his mentor since 2004. As for Camilleri, the man has kept a low profile for years despite being one of PM most successful managers. He is also known being in charge of the negotiations and settlements of the lawsuit brought against PM for the damage its tobacco products, which he is very supportive, have caused.
Phylyp (@phylyp)
21st July 2018, 18:44
Many thanks @tifoso1989 that’s good to know 👍
Makana (@makana)
21st July 2018, 19:39
Thanks for the info @tifoso1989
formevic (@formevic)
21st July 2018, 19:49
And Mike Manley fron Edenbridge,Kent new CEO of FCA.
ColdFly (@)
22nd July 2018, 7:49
Different CEO’s and (probably) chairmen will widen the gap between FCA/Alfa Romeo and Ferrari.
Sauber might lose its main tie-in with Ferrari
formevic (@formevic)
21st July 2018, 19:05
Italy fresh new report bit dramatic sit abt Marchionne.. they talk of “sudden aggravation” and FCA management “support to family”. Hopo are bs..
Dewald Nel (@ho3n3r)
25th July 2018, 11:14
I believe those absurdities can be laid to rest now.
Fer no.65 (@fer-no65)
21st July 2018, 19:05
Best wishes to him, hope he recovers
Todd (@braketurnaccelerate)
21st July 2018, 19:56
MRSA infection? Pretty common complication from surgery that can take a drastic turn in a matter of hours/days. If it really is a MRSA issue, I hope Marchionne pulls through. MRSA is a nasty infection that can cause anything from Pneumonia to Organ Failure and lots of other issues.
Jere (@jerejj)
21st July 2018, 20:54
Get well soon.
Bridge Wilson (@gwbridge)
22nd July 2018, 2:41
I wish him many happy, healthy years away from Formula One. I hope he recovers 100% and I never see his name in print ever again in any context.
lancesuk (@lancesuk)
22nd July 2018, 3:01
Hoping for the best.
Bahman (@bahman)
23rd July 2018, 13:28
He passed away.