Montezemolo to enter politics and leave Ferrari – reports

Luca di Montezemolo is on the cusp of entering Italian politics and it could mean he vacates his role as Ferrari president.

Mere days ago, the famous Maranello marque’s board of directors reinstated 63-year-old Montezemolo for the next three years.

But the latest suggestion is that Montezemolo has definitely decided to enter politics.

"I do not think this is one of the key questions of Italian politics," said Roberto Formigoni, the president of the Lombardy region.

"But if someone from civil society enters politics I will welcome him," he added when asked about the Montezemolo rumours.

And Montezemolo told Max magazine, published on Tuesday: "We need a managerial class to enter politics to give, not to take. We must start working together as a team and spread the culture of all-inclusive group work."

The Italian racing magazine Autosprint quoted Massimo Cacciari, the former Venice mayor, as saying Montezemolo has already made his decision "but first we must arrange things with his Ferrari".

The report tipped Lapo Elkann, the 34-year-old brother of Fiat chairman John Elkann, to succeed Montezemolo, supported by Fiat CEO Sergio Marchionne.