Sergio MarchionneItaly – While retaining his current role as chairman, Sergio Marchionne is taking the responsibilities until now held by CEO Amedeo Felisa, who has served the company for 26 years. In his retirement, Felisa will hold a technical advisory position on the board of directors.

“I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years,” commented Marchionne. “He is beyond any doubt one of the best automotive engineers in the world. During the last 26 years, he has worked tirelessly to fuel and guide Ferrari’s technical development, producing an array of cars which have set the standard for both performance and styling.”

The changes take place with immediate effect.