Overnight, Amedeo Felisa resigned from his post as CEO of Ferrari. As a result, Sergio Marchionne, head of Fiat Chrysler, consolidates his control over the luxury sports car maker, and adds Ferrari CEO to his long list of executive titles.
These include being CEO of Fiat Chrysler, chairman of automobile parts supplier Magneti Marelli, vice chairman of Exor, chairman of verification and certification company SGS, a director of cigarette maker Philip Morris, and vice chairman of truck and tractor maker CNH.
Marchionne will also retain his title as chairman of Ferrari, a position he assumed in October 2014, when Luca di Montezemolo stepped down from his post. It has been widely speculated that the two men fell out over di Montezemolo's insistence that Ferrari stick to an production cap of around 7000 cars per year.
Above: Sergio Marchionne
Felisa was appointed CEO of Ferrari back in early 2008 and, for most of his time in the post, worked alongside di Montezemolo, who chaired the company from 1991 and is widely credited with turning the company around.
Despite giving up the CEO role, Felisa will remain with the sports car maker as a member of its board of directors and a technical advisor.
Last year, Fiat Chrysler spun off Ferrari into its own independent company and listed 10 percent of the firm on the New York Stock Exchange.