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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.

2017 Ferrari GTC4Lusso First Drive

The Ferrari FF is a monster, a four-wheel-drive bread van with a 6.3-liter V12 that people like us have adored since it arrived in 2011. It's great to drive and better to look at, a shooting brake with more power, less practicality, and a higher price tag than pretty much anything else in this shape. Ferrari has sold almost 6,000 of them, handily beating its target of 800 per year. It was a success by any measure. Its replacement, the GTC4Lusso, might sound like something out of Ferrari's mad, bad Sixties brochures, but under the skin is pretty much the same aluminum-alloy space frame of the FF. Ferrari has carefully listened to its critics on practicality, price, and power, and duly made the GTC more powerful, pricier, and not much more practical. There have been some slight stylistic adjustments. A scallop was cut into the front fender and door skins to reduce the visual weight, and the roofline has been extended, terminating in a slight spoiler at the waist, which is said to improve aerodynamic efficiency by up to six percent. It looks sharp and mean on its 20-inch five-spoke alloys, although some of the detail, such as the wing vents and the absurdly long hood, verge on the cartoonish. The basic 65-degree, 6.3-liter, quad-cam V12 stays largely the same, but has a higher compression ratio and redesigned cylinder heads and pistons, which make the fuel/air mix burn more efficiently and consequently provides 30 more horsepower. The engine shrieks to 8,250 rpm, but peak power is 681 hp at 8,000 rpm with peak torque of 514 pound-feet produced at 5,750 rpm. Top speed remains the same at 208 mph, but the 0–62 mph acceleration time comes down slightly to 3.4 seconds. US gas mileage is yet to be homologated, but the European-cycle figures improve slightly – not that you care. The engine drives a rear-mounted, seven-speed, twin-clutch transaxle and then there is that extraordinary four-wheel-drive system, which consists of a simple, helical-cut, hydraulically controlled gearbox running off the front of the crankshaft. It weighs 100 pounds and has two speeds plus reverse and a couple of Haldex-type clutches to activate each wheel when required in first to fourth gears and at speeds below 124 mph. New for the GTC is a ZF rear-steering system, a ram powered by an electric motor that pushes the rear suspension against its bushings to give a couple of degrees steering in either direction.

Watch how fans honored Michael Schumacher on his 45th birthday outside his hospital

Michael Schumacher remains in a medically induced coma six days after a skiing accident in the French Alps. While the racing legend spent his 45th birthday in the hospital, listed in stable but critical condition, racing fans from all over Europe descended upon the clinic in which he lies in Grenoble, France, to pay their respects.
The event was arranged by Ferrari, the manufacturer with which Schumacher is most often associated after winning 72 individual races for the Italian marque between 1996 and 2006. In total, Schumacher won 91 races, stood on the podium 155 times and won seven F1 Driver's Championships over the course of his illustrious 19-year career.
Schumacher's family was deeply touched by the outpouring of support and has issued a short statement thanking Ferrari fans for their "incredible sympathies." We've gathered a few videos together showing scenes of support from outside the hospital, and you can see them, along with the family's official statement, below.