Ferrari Chief Executive Amedeo Felisa has refused to budge from his post before the company’s maker’s initial public offering (IPO) planned for later this year,
“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.
“At the right time we will provide the right solution,” he said.
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.
“We are not at that stage yet. Everything else I can tell you would be pure conjecture,” Marchionne said.
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 % of Ferrari, is planning to boost its coffers by listing up to 10 % 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.
“Continuity in an environment like this, especially for a company that has had a successful run commercially, as it has had, is important. He (Felisa) has done a great number of things for the development of Ferrari.”
Marchionne has said Ferrari should be worth at least US$11 billion.