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FIAT SHARES RISE AFTER FERRARI BOSS QUITS (STA BREAKING NEWS and ARCHIVES)
by STANews 
, Wednesday, September 10, 2014, 12:02
![[image]](http://news.bbcimg.co.uk/media/images/77499000/jpg/_77499422_ferrari.jpg)
Luca Cordero di Montezemolo has resigned as chairman of Ferrari
Shares in Italian carmaker Fiat have risen after Luca Cordero di Montezemolo resigned as the chairman of its Ferrari division.
He will be replaced after 23 years by Fiat chief executive Sergio Marchionne.
The stock gained 2.7% to 7.91 euros in afternoon trading in Milan following the announcement.
Mr Montezemolo's departure had been expected after Mr Marchionne said that Ferrari's poor Formula 1 performance this season was "unacceptable".
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http://www.bbc.com/news/business-29143404
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- FIAT SHARES RISE AFTER FERRARI BOSS QUITS - STANews, 2014-09-10, 12:02 (STA BREAKING NEWS and ARCHIVES)
