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Ferrari CEO could retire Friday letting Marchionne step in

Rumors once again suggest that current Ferrari CEO Amedeo Felisa plans to retire from the role. Anonymous insiders tell Bloomberg that the announcement could come as soon as April 15, with an announcement at the company's upcoming investors meeting. Sergio Marchionne is the favorite to become the new CEO, the unnamed sources claim. Felisa would step down as CEO after Ferrari nominates its new board of directors, according to Bloomberg. He would likely retain a seat on the board and could still do some work at the company. Felisa joined the sports car maker in 1990 as director of product development. He replaced Jean Todt as CEO in 2008. Marchionne is already Ferrari's chairman, and taking on the CEO role in addition would give him greater control over the brand's future. Bloomberg's insiders note that Marchionne's takeover isn't final yet, and someone else could conceivably get the role. The sweater-wearing exec has a clear view for Ferrari's future, though. He plans to increase volume to around 10,000 vehicles a year, but he's staunchly against building an SUV or an EV. If he takes control, expect him to work out a plan to increase the Prancing Horse's share price. At its October IPO, the stock started at $52 a share; today it opened at $41.24. Rumors about this shift have been swirling for months. For example, reports from Italian media in June 2015 suggested Felisa would retire as CEO. Subsequent rumors claimed Marchionne was the frontrunner to take over the position. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari 458 with $1M wheels still hasn't found a buyer [w/video]

Rule number one of modifying a car: When it comes time to sell, people want to pay for the car, and could care less how much you spent in the aftermarket. This is a lesson that the guys at Latitude Wheels in Miami are currently learning.
The wheel company's "flagship show car," a 2011 Ferrari 458 Italia was put up for sale on eBay weeks ago, as reported by Jalopnik. The price? Just a shade under $1.3 million. For a 458 Italia. That normally starts around $230,000. Yeah.
Latitude justifies the car's price based on a very expensive set of wheels. To be exact, the 21-inch fronts and 22-inch rears are forged Vossen Precision Series wheels. Mounted on Pirelli rubber, Latitude claims the package is worth over $1 million. Add onto that the $20,000 in Novitec Rosso carbon fiber pieces - none of the fun, performance stuff Novitec is known for - and you come to an eBay starting price of $1,290,000.

Petrolicious goes running up that Hill in a Ferrari 250 GTO

We might not ordinarily run a seven-minute clip of in-car footage. But this is no ordinary car, it's not being driven by any ordinary driver, and it wasn't put up by just any YouTube user. This is video of a Ferrari 250 GTO once raced by Phil Hill, being driven by his son, Derek Hill, in a hillclimb for Petrolicious. The footage was captured during the making of a previous clip, entitled The Ferrari 250 GTO Speaks for Itself and released over a year ago. Since it was left over after production, the Petrolicious uploaded it here for our enjoyment. Of course the GTO should require no introduction, being one of the most sought-after classics the world has ever known. And neither should Derek Hill. While the former's clout goes without saying, Hill's skills warrant repeating. The late legend Phil Hill was one of the few Americans to succeed in European racing in the 1960s, with a Formula One World Championship title and three Le Mans wins to his name. Derek may never have reached his father's level of success, but he's won races and titles in both formula and sports-car racing, and was among the last to professionally race a Bugatti when he campaigned an EB110 at Daytona back in 1996. The point is, the guy can drive, and you can see that much for yourself from the video above. Related Video: