Ferrari Likely to retain CEO Felisa

Fiat Chrysler Automobiles NV Chairman John Elkann tells reporters there are no plans to replace Amedeo Felisa as CEO of Ferrari SpA when FCA spins off the iconic brand next year.

FCA intends to shed Ferrari by selling a 10% stake in the unit to the public and distributing its 80% stake to current FCA shareholders. The remaining 10% of the supercar company will be retained by Ferrari Vice Chairman Piero Ferrari.

Elkann also says FCA may link the Ferrari spinoff to a "loyalty" plan that would hike the voting power of longtime shareholders. Doing so would further strengthen control of Ferrari for Exor, the holding company of the Agnelli family that founded Fiat.