Todt is no longer the chief executive…

Ferrari’s shareholders have renewed their board of directors today for a period of three years. Luca di Montezemolo remains the president, and Jean Todt is leaving his role as CEO. The Frenchman will be replaced by Amedeo Felisa.

Todt, who left his position as team principal this year, was appointed chief executive officer in October 2006.

The Frenchman will remain within the Ferrari house as he has reportedly received special attention to be one of the representatives of GT Sports Management. He will also continue to represent Ferrari at the FIA World Council.

« My commitment to the president was to manage the company until the end of his term as president and to appoint the new director of Sports Management, » said Todt.

« After completing these tasks, a new phase of my life began in which I would have more time to dedicate to myself. »

Naturally, I will continue to make a contribution within Ferrari in my institutional position and in the one the President has chosen to entrust to me.

Ferrari stated in a declaration that Jean Todt has brought, over the past fifteen years, an extraordinary human and professional contribution for the good of Ferrari, which has enabled the sporting success of the prancing horse company.

The Board of Directors is now composed of the following members: Luca di Montezemolo, Piero Ferrari, Jean Todt, Amedeo Felisa, Alfredo Altavilla, Diego della Valle, Christopher Gent, Enrico Lippi, Sergio Marchionne, Paolo Monferino, Lindsay Owen-Jones, Marco Piccinini, and Sergio Pininfarina.

The shareholders’ meeting also approved the company’s 2007 balance sheet, at which time 1,668 million euros were invoiced and 6,465 cars were delivered.