Ferrari's
Luca Di Montezemolo is to step down as long-time chairman of the Formula 1
team.
His
departure follows a poor season on the track and disagreements with Sergio
Marchionne, chief executive officer of parent company Fiat.
"This
is the end of an era after almost 23 marvellous and unforgettable years,"
said Di Montezemolo, 67. "It has been a great privilege."
Marchionne
will replace Di Montezemolo, who leaves the role on 13 October.
Ferrari
have not won a drivers' or constructors' title since 2008 and are in the midst
of their least competitive season for 20 years.
The
team had their worst result of the year at the Italian Grand Prix on Sunday
when
