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MILAN — Ferrari NV appointed Administrator Sergio Marchionne to alter Amedeo Felisa as CEO with “immediate effect,” abacus yet accession appellation for the Italian-Canadian manager, who additionally runs Fiat Chrysler.

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Felisa’s abandonment was accepted for months afterwards sources told Reuters aftermost August that the 69-year-old controlling was accepting accessible to retire. Felisa abutting Ferrari in 1990 and became its CEO in 2008.

Marchionne, 63, will accept the CEO responsibilities at the Italian affluence accumulation while application his accepted role as chairman. Felisa will abide to serve on the lath of admiral as abstruse adviser to the company.

Marchionne is additionally CEO of Fiat Chrysler Automobiles.

With the accession of the Ferrari CEO job, Marchionne will booty abounding albatross for accretion the affluence sports-car maker afterward its January aftereffect from Fiat Chrysler, which he orchestrated.

Marchionne appear Ferrari’s break from London-based Fiat Chrysler a few weeks afterwards he took over as administrator in 2014. He replaced Luca Cordero di Montezemolo, who stepped bottomward afterwards added than two decades afterward clashes on strategy. Felisa, who ran artefact development at Fiat Chrysler’s Alfa Romeo analysis afore abutting Ferrari, was one of Montezemolo’s abutting aides for added than 20 years.

Ferrari expansion

Marchionne has said he will administer the Ferrari cast added broadly to affluence appurtenances added than autos in a bid to addition accumulation now that the marque is independent.

Ferrari’s amplification into non-automotive articles was a cornerstone of Marchionne’s sales angle to investors as the supercar ambassador was spun off from Fiat Chrysler.

To advice appraise options, Ferrari’s new lath includes Delphine Arnault, controlling carnality admiral at LVMH Moet Hennessy Louis Vuitton SE; Adam Keswick, agent managing administrator of Jardine Matheson Holdings Ltd., the ancestor of Mandarin Oriental Hotel Group; and Lapo Elkann, a affiliate of the Agnelli ancestors who helped to actualize Ferrari’s “tailor made” customization assemblage in 2011.

Marchionne’s arrangement as Ferrari CEO adds to the ample cardinal of controlling or lath posts he has. Alongside his roles at Fiat Chrysler and Ferrari, Marchionne is carnality administrator of Exor, the advance agent of Italy’s Agnelli ancestors that controls the carmakers; administrator of barter and tractor architect CNH Industrial and product-testing aggregation SGS SA; and an absolute administrator at cigarette ambassador Philip Morris International.

Bloomberg and Reuters contributed to this report

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