MARCHIONNE PASSES AWAY AFTER ILLNESS
Marchionne, who took over from Luca di Montezemolo as Ferrari chairman in 2014, entered hospital for a shoulder operation, but his health deteriorated rapidly after surgery.
It was announced earlier this week he wouldn’t be able to return to work, with John Elkann taking over as chairman while Louis C Camilleri took on the role of CEO.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” Elkann said in a statement.
“I believe that the best way to honour his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was an ardent champion.
My family and I will be forever grateful for what he has done. Our thoughts are with Manuela, and his sons Alessio and Tyler.”
Marchionne played an essential role in Ferrari’s F1 operation in his four years as CEO and chairman.
Among his key contributions were the decisions to replace Marco Mattiacci with Maurizio Arrivabene as team principal, and negotiating the Alfa Romeo/Sauber deal.
He also showed interest in driver line up decisions, and was a supporter of Ferrari junior Charles Leclerc.
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Article Written By: Bethonie Waring
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