Luca Cordero di Montezemolo (Italian pronunciation: [ˈluːka korˈdɛːro di ˌmontedˈdzɛːmolo; -dˈdzeːm-]; born 31 August 1947) is an Italian businessman who is best known as former Chairman of Ferrari, and formerly Chairman of Fiat S.p.A. and President of Confindustria and FIEG.
Luca Cordero di Montezemolo | |
|---|---|
 Montezemolo in 2008 | |
| Born | 31 August 1947 |
| Nationality | Italian |
| Alma mater | Sapienza University Columbia University |
| Occupation(s) | former Chairman of Alitalia, former president of Confindustria |
| Known for | Former President of Ferrari S.p.A. Former Chairman of Fiat S.p.A. |
| Spouse | Ludovica Andreoni (m. 2000) |
| Children | 5 |
| Signature | |
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Montezemolo comes from an aristocratic family from the region of Piedmont in Italy. He is one of the founders and former president of NTV, an Italian company which is Europe's first private open access operator of 300 km/h (186 mph) high-speed trains.[1]
In 2009, Montezemolo founded Future Italy, a free market think tank that joined Civic Choice in the 2013 Italian parliamentary election.[2]
Ancestry and family background edit
Born in Bologna, Italy, he is the youngest son of Massimo Cordero dei Marchesi di Montezemolo (1920–2009), a Piedmontese aristocrat whose family served the Royal House of Savoy for generations, and Clotilde Neri (1922–2017), niece of famed Italian surgeon Vincenzo Neri. His uncle, Admiral Giorgio Cordero dei Marchesi di Montezemolo (1918–1986) was a commander in the Regia Marina in World War II. His grandfather, Mario (1888–1960) and great-grandfather Carlo (1858–1943) were both Generals in the Italian Army. He is also a relation to Andrea Cordero Lanza di Montezemolo (his father Massimo and Andrea were cousins), who became a cardinal in 2006 and whose father, colonel Giuseppe Cordero di Montezemolo, was killed by the Nazi occupation troops during the massacre of the Fosse Ardeatine in Rome in 1944. His surname is actually "Cordero di Montezemolo" and the correct usage is either the full surname or just Montezemolo (omitting the "di"); Marchesi is a noble title.[3]
Early life and education edit
Montezemolo graduated with a degree in law from La Sapienza University in 1971. Afterwards, he studied for a master's degree in international commercial law at Columbia University.[4]
Career edit
Sports edit
Montezemolo's sporting career began at the wheel of a Giannini Fiat 500 which he raced together with his friend Cristiano Rattazzi. Later, Montezemolo briefly drove for the privately owned Lancia rally team known as HF Squadra Corse. He joined the auto manufacturing conglomerate FIAT S.p.A., headquartered in Torino. In 1973 was moved to Ferrari, where he became Enzo Ferrari's assistant and, in 1974, manager of the Scuderia. During his involvement with the team, Ferrari won the Formula One World Championship with Niki Lauda in 1975 and 1977.
Business edit
In 1976 Montezemolo was promoted to become head of all FIAT racing activities, and in 1977 he advanced to become a senior manager of FIAT. Throughout the 1980s, Montezemolo occupied a number of positions in the FIAT empire, including managing director of the drinks company Cinzano and director of the publishing company Itedi.
In 1982, Montezemolo managed the America's Cup challenge of Team Azzurra, the first Italian yacht club to enter the event. In 1985, he became manager of the Organizing Committee for 1990 World Cup Italia.
In November 1991, FIAT Chairman Gianni Agnelli appointed Montezemolo president of Ferrari, which had been struggling since Enzo Ferrari's death. Montezemolo made it his personal goal to win the Formula One World Constructors' Championship once again. Montezemolo quickly made changes at the Italian team, signing up Niki Lauda as a consultant and promoting Claudio Lombardi to the team manager role.[5] During the 1990s he resurrected the Ferrari road car business from heavy debts into profit. He also took on the presidency of Maserati when Ferrari acquired it in 1997, until 2005.
Under Montezemolo and executive director Jean Todt, the Ferrari Formula One team won the World Drivers' Championship in 2000, the first time since 1979. The previous year, 1999, they had won the Constructors' Championship for the first time since 1983.
On 27 May 2004, Montezemolo became president of the Italian business lobby Confindustria. Days later, following the death of Umberto Agnelli on 28 May, he was elected chairman of Fiat S.p.A., Ferrari's parent company.
Montezemolo has often been reported to have aspirations of a career in Italian politics, most recently the office of Prime Minister, but has always denied the rumours.[6]
On 29 July 2008, Montezemolo founded the Formula One Teams Association (FOTA) which he presided over from 2008 to 2010, eventually being replaced by McLaren CEO Martin Whitmarsh. The Committee used to meet on a regular basis to discuss improvements to Formula One. FOTA was formally dissolved in 2014.
Montezemolo's salary in 2010 was more than twice that of Fiat CEO Sergio Marchionne, making him the best-paid executive in the Fiat Group.[7]
In April 2010, John Elkann replaced Montezemolo as Chairman of Fiat S.p.A.[8]
On 10 September 2014, Montezemolo resigned as president and chairman of Ferrari following increasing tension with his would-be successor, FIAT Chrysler CEO, Sergio Marchionne.[citation needed]
In February 2015, Montezemolo became committee president of the Rome bid for the 2024 Summer Olympics.
Other activities edit
Corporate boards edit
- Tod’s, Independent Member of the Board of Directors[9]
- Alitalia, Non-Executive Chairman of the Board of Directors (2014–2017)[10][11]
- Formula One, Non-Executive Member of the Board of Directors (1991–2014, 2014–present)[12]
- UniCredit, Independent Member of the Board of Directors (2012–2017)[13]
- Renova Group, Member of the Board of Directors (–2018)
- Nuovo Trasporto Viaggiatori, Member of the Board of Directors (–2012)[14]
Non-profit organizations edit
- LUISS, President (since 2004)
Recognition edit
In July 2015, Montezemolo was inducted into the Automotive Hall of Fame. He received the America Award of the Italy-USA Foundation in 2017.
Personal life edit
Montezemolo lives primarily in Italy, with an apartment in Rome and a country estate outside Bologna.
He has five children, and has been married twice.
In 2012 Montezemolo was issued a suspended sentence of one year imprisonment by the court in Naples for the unauthorized construction of his personal residence in Anacapri, Italy.[15]
In his spare time, Montezemolo is a keen sailor and has owned two motor yachts.
Awards edit
References edit
- ^ Murray Hughes (2008-09-01). "NTV targets 20% market share by 2015". Railway Gazette International.
- ^ Iovane, Domenico (2022-04-26). "Luca Cordero di Montezemolo: la biografia dell'imprenditore". True News. (in Italian). Retrieved 2022-04-29.
- ^ "Arms of Roberto Cordero di Montezemolo, Noble of the Marquises of Montezemolo". Archived from the original on 2009-02-03.
- ^ Joshua Levine (29 September 2011). "La Bella Vita". The Wall Street Journal.
- ^ Zapelloni, Umberto (April 2004). Formula Ferrari. Hodder & Stoughton. p. 17. ISBN 978-0-340-83471-8.
- ^ "di Montezemolo says no to a political career". GrandPrix.com. Inside F1. 2007-06-01. Retrieved 2007-06-01.
- ^ Stefano Rebaudo (24 February 2011), Ferrari's boss the best paid in Fiat group Reuters.
- ^ "Fiat taps Elkann as chairman, revives auto unit spin off". The Economic Times. 21 April 2010. Retrieved 11 September 2014.
- ^ Board of Directors Tod’s.
- ^ Oud-topman Ferrari in raad van Alitalia – De Telegraaf (in Dutch)
- ^ Alberto Sisto (14 March 2017), Alitalia chairman ready to quit after industrial plan approved - source Reuters.
- ^ Alan Baldwin (18 December 2014), Di Montezemolo returns to F1 board Reuters.
- ^ UniCredit Board of Directors Vice Chairman Luca Cordero di Montezemolo steps down UniCredit, press release of 20 April 2017.
- ^ Antonella Ciancio (24 October 2012), Ferrari boss quits as chairman of Italian train firm Reuters.
- ^ "Abusi edilizi a Capri, un anno di condanna per Montezemolo". Corriere Della Sera. 7 May 2012.
- Eason, Kevin (2003-12-12). "End of the road for the man who rescued Ferrari?". The Times (London). Retrieved 2008-06-29.
- "Key day for patrician master of Italian icon". The Times (London). 2005-01-25. Retrieved 2008-06-29.
- Hotten, Russell (2008-06-29). "No stopping Ferrari". The Telegraph (London). Archived from the original on 2008-06-30. Retrieved 2008-06-29.
External links edit
