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Ferrari to keep CEO Amedeo Felisa post spin-off

Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO. Speaking to journalists in Milan this past Friday, FCA chairman John Elkann said, "There will be no CEO change," indicating that the job of chief executive Amedeo Felisa is secure for at least a while longer. After two decades at Alfa Romeo, Felisa joined Ferrari back in 1990, was named general manager in 2006 and chief executive in 2008. In that capacity, he's always reported to company chairman Luca di Montezemolo, whose place was recently taken by Sergio Marchionne. It remains unclear, however, just how directly involved Marchionne will remain in the Prancing Horse marque, especially after the spin-off, and what that would mean for Felisa. In launching the IPO, Ferrari could institute a loyalty scheme that would award additional stake to the company's oldest and largest shareholders – which would only further entrench the holdings of the Agnelli family which Elkann heads and which stands to become the largest stakeholder in Ferrari after its separation from the rest of the group.

Ferrari hybrid V8 arriving next year, could power Ferrari SUV

Ferrari CEO Sergio Marchionne told Auto Express that the world can expect a V8 hybrid from Maranello next year. He said, "The test mules are out now," but what he wouldn't tell the Brit mag is where that V8 hybrid will go. Everything else in Ferrari's lineup has been recently introduced or refreshed save for the 488, but the 488 is just two years old. With all of the current cars ruled out, the bettors wager on the hybrid V8 appearing in the Ferrari SUV that's also due next year. We've no idea how Maranello engineers will structure the electrical assistance, but Marchionne indicated "more of a traditional hybrid [than the LaFerrari] to fulfill a different role." That means a strictly performance-based kinetic energy recovery system likely steps aside for one that will "yield additional performance" as well as better fuel economy. In further comments to Top Gear — where he expressed a touch of disappointment in the firm's GT car designs and the possibility of a 250 GTO continuation — Marchionne said, "The hybrid element will be much more of a mainstay of the powertrain than it was in the LaFerrari." Look out for plug-in charging and some kind of all-electric range. If all of this speculation holds up come 2019, it also means the Ferrari SUV will reverse its competitors' playbooks — the Bentley Bentayga and Lamborghini Urus, for instance, established themselves with their mightiest powertrains, then got around to plug-in hybrid models. A hybrid SUV would be smart, as we're coming up on an emission target escalation in 2020. Those targets only apply to carmakers selling more than 10,000 units per year, Ferrari sold nearly 8,400 cars last year and aims to crack 9,000 sales this year. The SUV will certainly put the Prancing Horse over the 10K barrier, and as a volume seller, relatively speaking, will make a worthwhile contribution to emissions values. Of course, you have to write Marchionne's quips in pencil, because they're prone to revision. It was only two years ago when Marchionne answered a question about the mere possibility of an SUV with, "You have to shoot me first." Later that same year, Marchionne said every Ferrari sold from 2019 onward would have some sort of hybrid element.

Mercedes sues Ferrari-bound F1 engineer for stealing secrets

Mercedes is suing one of its Formula One engineers, one Benjamin Hoyle, claiming he was planning to take sensitive data to a competitor. An experienced powertrain engineer, Hoyle came to Mercedes AMG High Performance Powertrains in 2012 with previous experience at Prodrive and Cosworth. One of four team leaders at the company, Hoyle headed up the performance application department until he notified his employers of his intention not to seek renewal of his contract that expires at the end of this year. Once they found out that Hoyle was switching to Ferrari, the higher-ups at Mercedes reassigned him to other, less sensitive duties, however Hoyle was reportedly discovered accessing race reports and other sensitive data relating to the performance of the team's engines. In response, Mercedes has filed suit against Hoyle, claiming that he "and potentially Ferrari have gained an unlawful advantage." The German automaker is seeking the return of all documents and the payment of its legal fees. It also seeks to prevent Hoyle from working for another F1 team throughout next season. Mercedes AMG High Performance Powertrains is the Daimler's F1 engine division. Based in Brixworth, UK, it was founded back in 1983 together with Ilmor before Mercedes bought it outright. Aside from the company's own works team, the outfit this year powered Williams, Lotus, and Force India, and previously worked with McLaren as well as Sauber. This is not the first time that a case of industrial espionage has emerged in F1. A similar controversy erupted in 2007 surrounding engineers Nigel Stepney and Mike Coughlan. The highly publicized incident became known as "Spygate" or "Stepneygate" and involved the illegal sharing of secrets between Ferrari, McLaren, and Renault. News Source: BloombergImage Credit: Martin Meissner/AP Government/Legal Hirings/Firings/Layoffs Motorsports Ferrari Mercedes-Benz F1 industrial espionage