FIAT’s decision last week to cut loose Ferrari President Luca Cordero di Montezemolo highlights the challenges facing the luxury sports car brand, amid record international sales but a pitiful Formula One performance in recent years.
After 23 years at the helm, Montezemolo is out—with racing-world watchers pointing to recent friction between the Italian businessman and Sergio Marchionne, head of the brand’s parent group Fiat, over the future of Ferrari.
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