News Details
Montezemolo to get $34 million payout from Ferrari
Luca di Montezemolo
Luca Cordero di Montezemolo, Fiat Chrysler's outgoing chairman of its sports car division Ferrari will receive a combined severance package of $34.8 million, with nearly half to be paid in a lump-sum by next February, the company announced.
Montezemolo, chairman of Italian luxury sports car maker Ferrari, is quitting to be replaced by the boss of parent group Fiat after the two men clashed over strategy and the Formula One team's poor results.
In a statement, Fiat said Di Montezemolo will receive a lump-sum payment of $17 million by January 31, 2015 in return for agreeing not to compete with Fiat until March 2017.
Fiat also said Di Montezemolo will receive...
Full Story »
Full Story »
10y ago from GrandPrix247.com
0
You May Also Be Interested In...
Ferrari chairman quits
Ferrari chairman Luca Cordero di Montezemolo is quitting the Italian...
10y ago from SuperSport.com
Marchionne says even Montezemolo 'can be replaced'
An obvious dispute is playing out between Ferrari president Luca di...
10y ago from F1Zone.net
Fiat big boss says Montezemolo can be replaced
Sergio Marchionne
Ferrari president Luca di Montezemolo could face losing...
10y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Pedro Acosta admits fourth at Aragon MotoGP ‘not...
Despite matching his best result of the 2025 MotoGP season, Pedro Acosta...
5m ago from MotorsportWeek.c...
Maverick Vinales tops the timesheets at Aragon MotoGP...
Tech3 KTM rider Maverick Vinales topped the timesheets after breaking the...
13h ago from MotorsportWeek.c...
Rider radios tried again in Aragon MotoGP test
No description available...
17h ago from Motorsport.com
Francesco Bagnaia: Aragon MotoGP podium result feels...
A third-place finish for Francesco Bagnaia "felt like a...
19h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
AJ Foyt Racing fined $25K, lose championship points...
No description available...
1w ago from Motorsport.com
Santino Ferrucci issued post-race penalty but keeps...
The NTT IndyCar Series has issued a penalty to the #14 entry of Santino...
1w ago from MotorsportWeek.c...
Louis Foster reveals likely cause of scary 180MPH...
On lap 84 of Sunday’s Detroit Grand Prix, Louis Foster was involved in...
1w ago from MotorsportWeek.c...
Detroit GP expected to remain downtown amid potential...
Following the conclusion of the Detroit Grand Prix, organizers have...
4d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Sebastien Ogier stays aloof from WRC title fight...
No description available...
1d ago from Motorsport.com
Redemption for Ogier
One year on from losing victory on the final stage of Rally Italia...
1d ago from MotorsportWeek.c...
Sebastien Ogier takes record-breaking WRC Sardinia...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
'He can do that in the Premier League' – Manchester...
No description available...
55m ago from SportsKeeda.com
Report: Arsenal have stolen a march on their rivals in...
Bayern Munich winger Leroy Sane has been linked with a move away from the...
35m ago from CaughtOffside.com
Hale End, holidays & the final hours of window one
Morning all, as Andrew mentioned yesterday, he’s off on a well-deserved...
3h ago from Arseblog.com
'Done & signed' – David Ornstein calms...
Arsenal's transfer move for Martin Zubimendi is done and signed, according...
2h ago from CaughtOffside.com
Comments
Hottest News
Russell says F1 fans would be ‘unhappy' with Raikkonen
Jun.10 Finnish newspapers are not impressed... Read More »
35m ago from OneStopStrategy.com
Cadillac F1 switch would be a ‘waste' – Palou
Jun.10 Alex Palou thinks switching to Formula... Read More »
35m ago from OneStopStrategy.com
Champion announces Le Mans absence with health update
Former F1 Academy champion Marta Garcia has... Read More »
1h ago from GPFans.com
