Montezemolo says Ferrari owes him more gratitude for years at helm
Luca di Montezemolo, former Ferrari president, has publicly stated he expected more recognition from Ferrari’s owners for his role in the company’s long-term success.
Luca di Montezemolo, who served as Ferrari president for more than two decades, has said he expected an official acknowledgement from Ferrari’s owners for the company’s achievements during his tenure. Montezemolo led Ferrari from 1991 until his ousting in 2014, a period that included both commercial growth and a string of Formula One titles.
Montezemolo’s comments came after Ferrari’s public listing, when he noted that nearly all the results presented to investors reflected work done under his leadership. Speaking to the Financial Times, he said 23 of the 24 years of results shown at the time of the flotation were attributable to him and his team. Despite this, he said, he received no formal thanks from Ferrari’s owners following his departure.
Departure after Marchionne dispute
Montezemolo’s exit from Ferrari followed a public disagreement with Sergio Marchionne, chief executive of Fiat Chrysler, who took over as Ferrari chairman and initiated the plan to list Ferrari on the stock market. The split was not amicable, and Montezemolo has made clear in several interviews that he was unhappy with both the manner and the aftermath of his departure.
Montezemolo’s expectation of gratitude was not for financial reward. He pointed out that the company’s value at the time of the IPO was exceptionally high, and said he did not want a gift, but felt a formal thank you from the owners would have been appropriate. For more on the circumstances of his exit, seeMontezemolo Unhappy with Circumstances of Ferrari Departure.
Montezemolo’s legacy at Ferrari
Montezemolo joined Ferrari in the early 1970s as Enzo Ferrari’s assistant, rising to the presidency in 1991. Under his leadership, Ferrari returned to winning ways in Formula One, securing multiple world championships and expanding its road car business. The company’s financial performance and global profile both improved markedly during his time at the top.
After leaving Ferrari, Montezemolo became chairman of Alitalia and took on a leading role in Rome’s bid for the 2024 Olympics. His relationship with Ferrari remains a subject of interest, particularly in light of his public statements about recognition and legacy. For background on his move into other roles, seeFerrari CEO Luca Di Montezemolo to Enter Politics and Leave Ferrari.
