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Marchionne takes total control of Ferrari as CEO and chairman

Ferrari is undergoing another changing of the guard as Amedeo Felisa retires from his longtime role as CEO. In his place, Sergio Marchionne will add the job to his absurd list of responsibilities. An engineer by training, Felisa has been with the company for 26 years, and some form of Fiat for nearly 50, having come to Maranello in 1990 after two decades at Alfa Romeo. He took charge of Ferrari's road-car division in 2001, was named general manager in 2006, and got the CEO job in 2008 after Jean Todt left to run for president of the FIA. Felisa's role as chief executive was seen as all the more important after Luca di Montezemolo was shown the door. Rumors persisted recently that Felisa was on his way out. With Felisa gone, Marchionne will be left running the company more directly than he has been as chairman for the past two years since supplanting Montezemolo. As it is, Marchionne serves as CEO of Fiat Chrysler Automobiles, chairman of CNH Industrial (the merged entity of Fiat Industrial and Case New Holland), and directly runs the NAFTA region for FCA, splitting his time between offices in Detroit, Turin, and Maranello. We wouldn't be surprised, then, to see Ferrari name a new CEO, or at least a senior manager to run the day to day and take some of the pressure off Marchionne, as adept as he's proven at wearing multiple hats. The company is in the process of reforming itself as a corporate entity separate from FCA, positioned more as a luxury brand, and is seeking to rediscover its former winning form on the racetrack. In the meantime, while Felisa steps down with immediate effect, he will remain on the board – his term having recently been renewed – as a technical advisor, just as Todt did before him. Related Video: Ferrari announces CEO succession Maranello (Italy), 2 May 2016 – Ferrari N.V. ("Ferrari" or "Company") (NYSE/MTA: RACE) announces the retirement of its Chief Executive Officer, Mr. Amedeo Felisa, after 26 years of dedicated service. Mr. Sergio Marchionne will assume those responsibilities while retaining his current role as Chairman of the Company. Mr. Felisa will continue to serve on the Board of Directors of Ferrari with a specific mandate as technical advisor to the Company. Sergio Marchionne had this to say: "I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years. He is beyond any doubt one of the best automotive engineers in the world.

The limited-run Ferrari J50 is the coolest 488 Spider you can't buy

Ferrari is really good at celebrating things. In recognition of 50 years of selling cars in Japan, the company is building a few one-off versions of the 488 Spider, called the J50. That's our kind of anniversary present. Just 10 of these cars will be built, and each will be customized to the taste of its owner. The J50 gets a 681-horsepower version of the 488's 3.9-liter twin-turbo V8 and of course wraps it all in different bodywork. The interior gets some custom attention as well, with different trim but most of the normal parts from the 488 Spider. It's not shown here, but there's a two-piece carbon-fiber targa roof that stows behind the seats and is supported by the matte carbon roll hoops. Design highlights include a polycarbonate bubble over the engine, a channel that wraps the front end and the sides, a chopped windshield and side glass, and a fantastic looking rear diffuser. The front end reminds us of some old GM aero concepts, but in the best way possible. If you want one, you're probably already too late. Ferrari likely offered these to its best Japanese customers before the car was even unveiled. You have 50 years to save up for the next one; better luck next time. Related Video: Featured Gallery Ferrari J50 Ferrari Convertible Luxury Performance Supercars ferrari 488 spider

Harry leaves his Garage to drive Ferrari 488 in Maranello

Harry Metcalfe doesn't need to go anywhere these days. He's handed over the reins of the Evo magazine he founded and gone into retirement, enjoying some quiet time with the many drool-inducing cars in his expansive garage. In other words, it would take quite the car to get him to leave the serenity of the English countryside and fly all the way down to Italy and its industrial north. The Ferrari 488 GTB is just such a car. The Prancing Horse marque's latest mid-engined V8 supercar should require no introduction. It's the successor to the celebrated 458 Italia and a long line that stretches back through the F430, 360 Modena, F355, 348, and 328 straight through to the 308 GTB that debuted in 1975. Only unlike its naturally aspirated predecessors, the 488 has gone twin-turbo to reconnect more with the likes of the F40 and 288 GTO. That leaves the atmospheric sector of this particular territory to the Lamborghini Huracan and its unassisted V10, while cozying up closer to the McLaren 650S. But does it make it any less of a Ferrari, or a less-than-worthy successor to the 458? That's what Harry set out to find out on the roads in and around the factory's home town of Maranello. Watch the video above to find out how it stacks up in his esteemed opinion. Related Video: X News Source: Harry's Garage via YouTube Ferrari Coupe Supercars Videos ferrari 488 gtb harry metcalfe harrys garage