Very good Autoblog article on Montezemolo's resignation - Ferrari Life
 
LinkBack Thread Tools Display Modes
post #1 of 4 Old 09-13-2014, 05:37 PM Thread Starter
Owner
 
Join Date: Nov 2013
Location: Toronto
Ferrari Life Posts: 535
Very good Autoblog article on Montezemolo's resignation

http://www.autoblog.com/2014/09/13/w...rcedes-amg-gt/

Weekly Recap: What led to the end of the Montezemolo Era at Ferrari?

Soon-to-be-former Ferrari chairman Luca di Montezemolo seemed to have the best job security in the auto industry. He presided over a brand that ranks with Google, Disney and Coca-Cola among the world's most powerful, and he's largely responsible for transforming Ferrari from an Old World, family-run business into a modern, global automaker.

But as of October 13, Montezemolo will be unemployed, after a stunning turn of events played out this week that toppled a man Italians hold in such high esteem. He was once rumored to be a candidate for prime minister.

How did that happen, and so quickly?

The answer to both rests with Sergio Marchionne. The CEO of Fiat Chrysler Automobiles – which owns Ferrari – clearly had a different view for the future of the Prancing Horse, which for 23 years has been steered exclusively by Montezemolo.
It's telling that Montezemolo is officially quitting Maranello Oct. 13, the day that the merged Fiat Chrysler will be listed on the New York Stock Exchange. Montezemolo has reportedly grumbled that "Ferrari is now American," according to Bloomberg, and obviously he was chafing at the loss of some of his company's autonomy.

Evidence of the fallout is apparent, even in the statements released by each of the men. By nature, press releases are as bland as skim milk. These pull no punches and invite you to read between the lines.

Marchionne's read:
Luca and I have discussed the future of Ferrari at length. And our mutual desire to see Ferrari achieve its true potential on the track has led to misunderstandings which became clearly visible over the last weekend [When Ferrari struggled at the Italian Grand Prix].

While Montezemolo countered:
Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase, which I feel should be spearheaded by the CEO of the Group.

This is the end of an era and so I have decided to leave my position as chairman after almost 23 marvelous and unforgettable years, in addition to those spent at Enzo Ferrari's side in the 1970s.

Marchionne appears to be pinning Montzemolo's exit on Ferrari's recent lack of success in Formula One. He has a point. Ferrari hasn't won a title since it captured the 2008 Constructors Championship, and it's in no position to win this year, despite having two former World Champions, Fernando Alonso and Kimi Raikkonen, piloting its race cars. The six-year drought is no doubt maddening for a team that's the oldest and most successful in F1 history.

Still, eight of Ferrari's 16 constructors crowns have come since Montezemolo took over as chairman, and Ferrari endured a much longer title drought in the 1980s and 1990s before Michael Schumacher and Ross Brawn reinvigorated the Scuderia.

Does Marchionne, or anyone for that matter, really believe Montezemolo has permanently lost his touch for the racing side of the business?

Conversely, Montezemolo's comments pointed to the Wall Street IPO, which will signal a "new and different phase" for Ferrari. Whether it's meant to or not, that sounds pretty ominous for Tifosi.

He also referenced his time as Enzo Ferrari's assistant in the 1970s, which led to his ascension to briefly head the racing team and more glory days for the Scuderia with Niki Lauda at the wheel.

Clearly, Montezemolo is casting himself as part of the "true Ferrari" lineage and suggesting that anything that changes for the worse after Oct. 13 is because the company is now a division of Marchionne's American empire.

In reality, everything both men said is true. Will Ferrari become less autonomous? Yes. Is Marchionne going to start making Chrysler minivans in Maranello? Of course not. Should the Scuderia have been more successful in recent years in F1? Absolutely. The team spends gobs of money and fields two of the most talented drivers in the sport. But rule changes – especially F1's move to new V6 turbo engines – have been hard on Ferrari. Still, teams go through slumps. Montezemolo wasn't the problem.

No, the real problem is Montezemolo held firm that Ferrari shouldn't make more cars. About 7,000 cars per year was his magic number. Marchionne, meanwhile, wants to ramp up Ferrari production to fulfill some of the pent-up demand – wait lists are notoriously long – and make more money.

History is written by the victors, and in the end, Marchionne and Montezemolo can both count this as a win. Yes, Montezemolo "resigned," but his tenure at the helm will rank him among Ferrari's greatest leaders. It's Enzo, then Montezemolo.

Marchionne will now get his way. More Ferraris, but realistically, not that many more. Marchionne knows Ferrari's value comes from its almost mythical status, and he won't compromise that. The road-car business will be fine. And if he can get the Scuderia back to its familiar position at the front of the F1 grid, Italians won't care where the stock is registered.
tifosi_ is offline  
Sponsored Links
Advertisement
 
post #2 of 4 Old 09-13-2014, 11:27 PM
Owner
 
JazzyO's Avatar
 
Join Date: Feb 2007
Location: The Netherlands
Ferrari Life Posts: 6,397
The wait lists are NOT notoriously long. At least not for most of us. I don't think 9 months is an unreasonable amount to wait for your custom specced Ferrari. And often you have to wait even less.

Again, I feel that Americans think that what they experience is representative of the company as a whole. A mistake that seems to be made again and again. It is due to the dealer network, not the factory.


Onno



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!

Future: 550 Maranello
Present: None
Past: 458 Italia, 550 Maranello,
365BB x 2,
330GTC
JazzyO is offline  
post #3 of 4 Old 09-14-2014, 12:49 AM Thread Starter
Owner
 
Join Date: Nov 2013
Location: Toronto
Ferrari Life Posts: 535
Quote:
Originally Posted by JazzyO View Post
The wait lists are NOT notoriously long. At least not for most of us. I don't think 9 months is an unreasonable amount to wait for your custom specced Ferrari. And often you have to wait even less.

Again, I feel that Americans think that what they experience is representative of the company as a whole. A mistake that seems to be made again and again. It is due to the dealer network, not the factory.


Onno
So does this mean you feel that Ferrari should increase their dealer outlets?
Clyde
tifosi_ is offline  
 
post #4 of 4 Old 09-14-2014, 12:37 PM
Owner
 
Bluebottle's Avatar
 
Join Date: Aug 2012
Location: Exeter, England
Ferrari Life Posts: 1,502
Quote:
Originally Posted by JazzyO View Post
The wait lists are NOT notoriously long. At least not for most of us. I don't think 9 months is an unreasonable amount to wait for your custom specced Ferrari. And often you have to wait even less.
I had to wait three months for Her Indoors' Fiat, just because she wanted an automatic (and then they sent one with a manual gearbox!) and my last Merc took four, so nine months for a Ferrari is hardly out of court. I can remember being quoted seven years for a Morgan back in the day.

Best wishes, John
Ferrari: 550 Maranello S/N 110995, Dino 246 GT S/N 6934
Other: 1990 Bentley Turbo R, 1989 Porsche 911 C2, 2004 Mercedes 500CLK, 2011 Mercedes E350 CDI, 1972 VW T2 Camper, 2014 Fiat 500C, 1963 Jaguar E-type 3.8 FHC, 2015 Maserati Granturismo Sport
Website: http://bluebottleonline.com/
Bluebottle is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale