Ferrari Chief Executive Amedeo Felisa will not leave his post before the luxury sportscar maker's initial public offering (IPO) planned for later this year, the boss of parent company Fiat Chrysler Automobiles (FCA) said on Saturday.
Felisa, who is nearly 70, is planning to retire soon and the listing would be a good time to do so, but no final decision has been made, a source familiar with the matter told Reuters last week.
"He (Felisa) will not leave before the IPO and the question of succession is one we have to deal with not only with Felisa but with other key positions inside the group," FCA Chief Executive Sergio Marchionne told journalists on the sidelines of the Italian Formula One Grand Prix in Monza.
If Marchionne were to make the move, it would not make much difference to Ferrari, where he is already chairman and effectively in command.
FCA, which owns around 90 per cent of Ferrari, is planning to boost its coffers by listing up to 10 per cent of its stake publicly and distributing the rest to its shareholders. Marchionne said he hoped Felisa, who joined Ferrari as an engineer in 1990, would stay at the company in some capacity.
Marchionne has said Ferrari should be worth at least $11 billion.
Felisa, who is nearly 70, is planning to retire soon and the listing would be a good time to do so, but no final decision has been made, a source familiar with the matter told Reuters last week.
"He (Felisa) will not leave before the IPO and the question of succession is one we have to deal with not only with Felisa but with other key positions inside the group," FCA Chief Executive Sergio Marchionne told journalists on the sidelines of the Italian Formula One Grand Prix in Monza.
Also Read
Sources have said Marchionne is preparing to step into the chief executive role, but the FCA boss said it was too early to say. He also refused to be drawn on whether FCA Chairman John Elkann could become chairman of the sportscar maker.
If Marchionne were to make the move, it would not make much difference to Ferrari, where he is already chairman and effectively in command.
FCA, which owns around 90 per cent of Ferrari, is planning to boost its coffers by listing up to 10 per cent of its stake publicly and distributing the rest to its shareholders. Marchionne said he hoped Felisa, who joined Ferrari as an engineer in 1990, would stay at the company in some capacity.
Marchionne has said Ferrari should be worth at least $11 billion.