Marchionne Named CEO of Ferrari

Fiat Chrysler Automobiles CEO Sergio Marchionne, 63, has been named CEO of the company’s former Ferrari NV unit. He will continue as chairman of the supercar company, a post he has held since October 2014.

He succeeds Amedeo Felisa, 69, who has been Ferrari’s CEO since 2008. Felisa has been a longtime lieutenant of Luca di Montezemolo, who quit as the company’s chairman in 2014 in a clash over the brand’s direction.

Marchionne has said he wants to extend the Ferrari marque into luxury goods that befit the iconic brand’s image. FCA spun off Ferrari in January.