MUMBAI: Sergio Marchionne, the former chairman and CEO of Ferrari, passed away in a Zurich hospital Wednesday, aged 66.
The news came four days after the Maranello-based company announced “with deep sadness” that Marchionne was unable to return to work, with John Elkann named as chairman in his stead, and Louis C Camilleri CEO.
The luxury sports car marquee posted the following tweet on its official Twitter account in the wake of Marchionne’s demise: “All of us at Ferrari feel privileged to have worked alongside a courageous leader like Sergio Marchionne, a man of enormous humanity and intelligence. In this moment of sadness, we join with his family in remembering him with immense affection.”
Marchionne, who was also the chairman and CEO of FCA, had been running Ferrari since taking over from Luca di Montezemolo in 2014. Under Marchionne’s stewardship, Ferrari have once more risen to the top echelon of the Formula 1 Championship, having won four of the 11 races to date in 2018, and challenging for both the drivers’ and constructors’ titles.
Marchionne formed a powerful alliance with Mercedes, fighting major changes to the sport being planned by new owners Liberty Media for 2021, BBC reports.
Marchionne more than once threatened to pull Ferrari out of F1 after 2020 if he was unhappy with the changes.
Chase Carey, chairman and CEO of Formula 1, described Marchionne as “both a leader and a friend”.
“We are deeply saddened by the passing of Sergio Marchionne,” he added. “He was a great leader of not just Formula 1 and the automobile world, but the business world overall.
“He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable. He was also a true friend to all of us and he will be deeply missed. At this difficult time we extend our deepest sympathies to his family, friends and colleagues.”
