Latest news with #LucadiMontezemolo
TimesLIVE
30-06-2025
- Automotive
- TimesLIVE
Former Ferrari boss Montezemolo becomes a McLaren Group director
Former Ferrari boss Luca di Montezemolo has joined the board of historic rival McLaren, a move that would have been unimaginable not so long ago. A filing with Companies House by Abu Dhabi-owned McLaren Group Holdings, which controls Woking-based sports car maker McLaren Automotive, registered Montezemolo as a director on June 27. The 77-year-old Italian joined Ferrari in 1973 as founder Enzo Ferrari's assistant and became team manager in 1974, a year before the late Austrian triple champion Niki Lauda secured his first title. He also presided over the Formula One team during a golden era when Michael Schumacher won five of his career seven titles between 2000-2004 and served as chair of both Ferrari and parent Fiat. McLaren and Ferrari, the two oldest and most successful teams in Formula One history, have been rivals for decades and were involved in a notorious "Spygate" scandal that erupted in 2007. British-based McLaren were stripped of all their championship points and fined a record $100m (R1.77bn) over a dossier of stolen Ferrari technical documents found in the possession of McLaren's chief designer. Both Ferrari and McLaren are under different management now, with Montezemolo resigning his roles at the Italian luxury sports car maker in 2014 and focusing on other business interests. CYVN, majority-owned by the government of Abu Dhabi, created McLaren Group Holdings in April after completing its acquisition of McLaren Automotive. The group includes a non-controlling stake in McLaren Racing, the Formula One team whose majority shareholder is Bahrain's Mumtalakat and which operates completely independently. Paul Walsh, executive chair of McLaren Racing, is also one of the nine directors of McLaren Group Holdings, while McLaren team principal Andrea Stella previously worked for Ferrari. McLaren are the reigning Formula One constructors' world champions while Ferrari last won a title in 2008. Seven-time world champion Lewis Hamilton, who took his first title for McLaren in 2008, is now driving for Ferrari. News of Montezemolo's new role was greeted with some amazement in Italy. 'Montezemolo-McLaren: What a slap in the face to Ferrari,' said sports newspaper Tuttosport in a headline.
Daily Mirror
29-06-2025
- Automotive
- Daily Mirror
Ferrari legend speaks out after quietly joining rivals McLaren
Luca di Montezemolo spent more than 30 years as president of Ferrari until he felt the company in 2014, so eyebrows were raised when it was revealed he had joined McLaren Former Ferrari president Luca di Montezemolo insists his heart "will always remain red" despite having joined McLaren. A document from Companies House reveals that the Italian businessman was, on June 27, appointed as a director of McLaren Group Holdings Ltd. He is the ninth current director of the firm which is in control of McLaren's road car business. The holding company also has a minority stake in McLaren Group under which the Formula 1 team falls, though Di Montezemolo is not expected to have any say on the team's activities. And he confirmed that would be the case in a statement, after news of his new McLaren role became public knowledge. The 77-year-old said: "My heart is and will always remain red, I have become a member of the board of directors of McLaren Automotive which produces road cars, and does not deal with Formula 1." Di Montezemolo's arrival is the latest during a period of significant change at the road car business. He is not even the only new director in the last week, as McLaren Group chairman Paul Walks was also appointed a few days earlier. Serving alongside them on that board is Nick Collins who, in May, was installed as chief executive of McLaren Automotive. The significant shuffling of personnel comes after MA was taken over by CYVN Holdings, an investment company based in Abu Dhabi, in April. But it is another country in the Middle East which is in charge of McLaren Racing. That arm of the business, which operates their F1 team as well as motorsport projects in other racing series, is majority owned by the sovereign wealth fund of Bahrain, Mumtalakat. Di Montezemolo's involvement in the road car business begins more than a decade since his exit from Ferrari. He resigned as president and chairman in 2014, having held the former role since 1991 when the Italian firm was struggling both in terms of its F1 competitiveness and financial stability. But over the course of the 1990s, he oversaw a transformation which led to Ferrari's debts being cleared and the company return to profit. And, in 1999, Scuderia Ferrari won the F1 constructors' title for the first time in 16 years. By that time, they had already recruited Jean Todt to lead the racing outfit, under Di Montezemolo's direction, and signed Michael Schumacher who was already a double F1 champion with Benetton by that point. It ended up being a special combination which led to five consecutive drivers' titles between 2000 and 2004. Di Montezemolo recently said he felt "big pain" at Ferrari's current position – they have not won the F1 title since 2008. "Today I see a team without real leadership, without spirit and without passion," he complained.
Observer
28-06-2025
- Automotive
- Observer
Former Ferrari boss Montezemolo becomes a McLaren Group director
LONDON: Former Ferrari boss Luca di Montezemolo has joined the board of historic rival McLaren, a move that would have been unimaginable not so long ago. A filing with Companies House by Abu Dhabi-owned McLaren Group Holdings, which controls Woking-based sportscar maker McLaren Automotive, registered Montezemolo as a director on June 27. The 77-year-old Italian joined Ferrari in 1973 as founder Enzo Ferrari's assistant and became team manager in 1974, a year before the late Austrian triple champion Niki Lauda secured his first title. He also presided over the Formula One team during a golden era when Michael Schumacher won five of his career seven titles between 2000-2004 and served as chairman of both Ferrari and parent FIAT. McLaren and Ferrari, the two oldest and most successful teams in Formula One history, have been rivals for decades and were involved in a notorious 'Spygate' scandal that erupted in 2007. British-based McLaren were stripped of all their championship points and fined a record $100 million over a dossier of stolen Ferrari technical documents found in the possession of McLaren's chief designer. Both Ferrari and McLaren are under different management now, with Montezemolo resigning his roles at the Italian luxury sportscar maker in 2014 and focusing on other business interests. CYVN, majority-owned by the government of Abu Dhabi, created McLaren Group Holdings in April after completing its acquisition of McLaren Automotive. The group includes a non-controlling stake in McLaren Racing, the Formula One team whose majority shareholder is Bahrain's Mumtalakat and which operates completely independently. Paul Walsh, executive chairman of McLaren Racing, is also one of the nine directors of McLaren Group Holdings, while McLaren team principal Andrea Stella previously worked for Ferrari. McLaren are the reigning Formula One constructors' world champions while Ferrari last won a title in 2008. Seven times world champion Lewis Hamilton, who took his first title for McLaren in 2008, is now driving for Ferrari. News of Montezemolo's new role was greeted with some amazement in Italy. "Montezemolo-McLaren: What a slap in the face to Ferrari," said sports newspaper Tuttosport in a headline. ANSA news agency quoted Montezemolo as saying his heart "is and always will be red" and his new role was on the automotive side and did not involve Formula One. — Reuters
Daily Mirror
13-06-2025
- Automotive
- Daily Mirror
Ferrari legend accuses F1 giants of signing Lewis Hamilton only 'for marketing'
Luca di Montezemolo was president of Ferrari for more than two decades and finds himself in despair at the current state of the famous Formula 1 outfit he once led A former Ferrari chief has said it has brought him "big, big pain" to have seen the team struggle for so many years. The most successful team in Formula 1 history, the Italians are in the midst of a lengthy championship drought having not won a title since 2008. President of the team at the time was Luca di Montezemolo, who served as Ferrari president from 1991 to 2014. Now aged 77, he has issued a scathing critique of the current Scuderia leadership, having watched on from afar. "For me it is a big, big pain," he told F1 Destinations. "I was with Ferrari for 23 years. This is about half the working life of an average person. I know how it should be. Today I see a team without real leadership, without spirit and without passion." While success on track continues to elude the team, they have made impressive commercial progress in recent times. Technology giant HP was signed as title sponsor while the arrival of Lewis Hamilton has given a massive boost to merchandise sales and also the parent company's stock price. But Di Montezemolo remains critical of both those decisions, taking particular exception to the team's one-off livery used at the Miami Grand Prix which saw splodges of blue added to the car to celebrate HP. "I don't want to see a Ferrari with a livery other than all red," said the Italian. "For me, it is a joke. I was told that this was for sponsorship purposes but, in my time, it was the opposite. Sponsors would pay tribute to Ferrari, not the other way around. "I also heard that the decision to hire Lewis Hamilton was made for marketing reasons. I have nothing against Hamilton. I respect him and his record, but I think Ferrari should hire a driver because they are competitive and strong, not because of marketing. "It is very sad to see Ferrari happy to achieve third place on the podium. I expect more, but I'm also old enough to know that it is difficult if you are half a second off the pace in Formula 1. I want to see Ferrari fighting for the championship. Third is not our position, we must be first." Hamilton has struggled to produce his best form since joining Ferrari, though it is clear that the team is not at its most potent right now. Asked what he would do if he were brought back to lead the team again, Di Montezemolo said: "I would summon everyone together and tell them that I want to see enthusiasm and passion from each and every one of them. "I would also want everyone to very clearly understand who is in charge of what. Everyone must know their roles and responsibilities, and have very clear priorities. I would want to pinpoint the areas of weakness and begin working on a plan to deliver a competitive car and team. Ferrari needs a strong leader, someone who can not only bring the team together but also fight for the team in front of the sport's authorities."
Yahoo
11-03-2025
- Automotive
- Yahoo
Book Review: 'Forza Ferrari: How F1's Most Famous Team Can Win Again'
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." When it comes to Formula 1-themed book forewords, it might be difficult to find a better scene-setter than the opener offered up by former Ferrari chairman Luca di Montezemolo. "Ferrari has been, after my family, the most important thing in my life. The sport of Formula 1 would not be the same without Ferrari—that is as true today as it ever was."$24.00 at At least he didn't forget to mention his family. Ferrari fans are a rare breed in sports. If you don't believe that now, you will after reading the book Forza Ferrari: How F1's Most Famous Team Can Win Again. This 262-page opus takes an inside look at the Ferrari race team, past and present, with highlights on mistakes made and hopes dashed in recent years leading up to what the team hopes will be a return to glory in 2025. It's a cry of hope that another Michael Schumacher era is right around the next corner for new driver pairing Charles Leclerc and Lewis Hamilton. More to the point, the book is author and veteran F1 scribe Nate Saunders' road map to the top rung of the F1 ladder. Schumacher won five of his seven Formula 1 titles with Ferrari, and the book traces the champion's journey, as well as the successful (and unsuccessful) attempts by Ferrari drivers since to capture their own glory days in red. It's not an easy journey, but it's one that this book published by Aurum Press in London says will happen again. You won't get any arguments from di Montezemolo. "Like all tifosi in Italy and around the world, I feel sure one of these two great drivers is the one who can end the long wait for another Ferrari driver's name to be on the World Championship trophy," di Montezemolo offers. "I know it is a question of when, not if, and when is very, very soon indeed."
