Ferrari CEO Jean Todt Steps Down

Ferrari’s shareholders on Tuesday confirmed the board of directors
for a three-year period, with Luca di Montezemolo staying on as
president and Jean Todt stepping down from his role as CEO.

The Frenchman will be replaced by Amadeo Felisa.

Todt, who left his position as team principal of the Formula One team this year, had been appointed CEO in October 2006.

The Frenchman will remain as part of the Ferrari board, after been
given special appointments in GT activities and Sports Management. He
will also continue to represent Ferrari at the FIA World Council.

"My commitment to the President had been to manage the company until
the end of his mandate as President of Confindustria and to indicate
the new director of the Sports Management," said Todt.

"Having accomplished these tasks, a new phase of my life has now
begun in which I will have more time to dedicate to myself and my other
interests.

"Naturally I will continue to make a contribution to Ferrari in my
institutional positions and in those which the President has chosen to
entrust me."

Ferrari said in a statement that it "thanks Jean Todt for the
extraordinary human and professional contribution he has made over the
last fifteen years of sporting success and great growth for the company
of the Prancing Horse."

The Board is now therefore composed as follows: Luca di Montezemolo,
Piero Ferrari, Jean Todt, Amedeo Felisa, Alfredo Altavilla, Diego della
Valle, Christopher Gent, Enrico Lippi, Sergio Marchionne, Paolo
Monferino, Lindsay Owen-Jones, Marco Piccinini and Sergio Pininfarina.

This is a significant change for Ferrari, even more so for the Formula One team who’s Prancing Horse had been at the reigns of Jean Todt for most of it’s recent success with Michael Schumacher. Alas, all the teams go through changes and late last year Stefano Domenicali, now team boss of Ferrari, was given the duty of keeping the team and the tifosi alike together.

For Kimi, he had only one year to get to know Jean and they seemed to have a good relationship, especially after winning straight away on his debut and then successfully winning the championship at the last race. With this new confidence in the Finn, the team can continue to work together as they pulled off a tough battle against McLaren driver Lewis and Fernando, who has now returned to old team Renault. The concern is only that of how Stefano can bring the team back after such a dismal start to the season, scoring just one poin despite both cars not finishing the race. He has shown positivity and has openly stated that he would always ask Jean for advice and that it would be silly not to. In any way, Kimi also got to know all of the team and Stefano included and seems to have remained loyal and dedicated without Jean Todt, by not complaining or criticising the team in performance or management.

Between Jean Todt and the Ferrari President, Luca Di Montezemolo, there had been a rift in the recent years when rumours began that Michael would retire. Over what seemed a battle of power, the relationship between Todt and Di Montezemolo became bitter sweet and it’s been only a matter of time that Jean would step down this year, as he even said that he would have quit when Michael retired. But Di Montezemolo has paid his tribute to Todt and can’t deny just how important he has been to one of the biggest names in motorsport’s history. So Jean, from all Kimi fans, thank you and especially for helping Kimi reach his dream of winning the F1 world championship last year.