Yesterday marked the end of an era in Formula One with the news that one of its most iconic characters Luca Di Montezemolo was stepping down as Ferrari chairman, just days after he had announced to the world that he intended to stay for another three years.
If there was ever a man who appeared to be the perfect fit as chairman of Ferrari it was Di Montezemolo. He is an Italian aristocrat, charismatic, suave, sophisticated and passionate about the Prancing Horse brand.
He transformed Ferrari and turned them into one of the most profitable car manufacturers in the world. On the track he oversaw incredible success in the late nineties and early 2000s, leading the team to six world driver’s titles, and eight constructor’s titles in the years dominated by Michael Schumacher, but they have won nothing since 2008 and this season has been an unmitigated disaster.
Ferrari may well be thriving as a manufacturer but this is a company with a rich and deeply emotional sporting history as winners in F1, and it is that heritage that contributes to the success of the company as a whole. They have been in F1 since 1950, and are, by a long way, the sport’s most important team. They don’t do mediocre at Maranello and when they flounder in F1 it strikes at the very heart of the company’s ethos and that was never going to be tolerated for long.
Fiat boss Sergio Marchionne, who is taking over as Ferrari chairman, summed it up perfectly when he said: “Montezemolo’s business record is very good but in the case of Ferrari, a leader must also be judged on sporting results.”
Success is not negotiable and some had already paid the price for six years of misery with team principal Stefano Domenicali one of those to lose his job but at the end of the day they were the scapegoats for failure at the very top and it was only a matter of time before Fiat, who own Ferrari, ran out of patience with Di Montezemolo.
In many ways he was his own worst enemy, a man who survived on charm and past glories and clearly believed they would carry him and Ferrari through this current crisis.
It was as if he had disengaged with the reality that he was ultimately responsible for Ferrari’s alarming decline and the fact it wasn’t going to end any time soon.
At first he was fully supportive of the massive changes made in F1 this year with the demise of the V8 engines and the introduction of twin turbo V6 hybrids, thinking it might give Ferrari a chance to reclaim their place at the front of the grid.
Once it became evident that was not going to be the case, he was suddenly against the changes, claiming F1 had lost its excitement and appeal. He even foolishly suggested that Ferrari might leave F1. Yes, we miss the unmistakeable sound of a V8 F1 engine but life moves on and you have to adapt – like Mercedes.
In some ways he became a charismatic dinosaur but in others he fought passionately for what he believed in, even if it left him isolated. He clashed with his own boss over Ferrari’s future strategy within the combined Fiat Chrysler Automobile group.
He wanted to restrict production to around 7000 cars a year to protect the brand’s exclusivity while Marchionne apparently wants to produce more cars to boost market share in the luxury car sector. Some would agree with Di Montezemolo’s view.
However, claiming at the Italian Grand Prix, where the Tifosi had to endure another embarrassing performance from Ferrari, that he would be in control for the next three years amid rumours that he was about to be ditched was the final act of defiance and left him with no option but to resign.
In sport, an individual is never bigger than the team and that applies to Di Montezemolo. Whilst it is sad to see such a flamboyant character leave F1 it was time for him to go and it gives Ferrari a fresh start.
Whether new team principal Matteo Mattiacci and Marchionne can revive Ferrari’s F1 fortunes remains to be seen and hanging on to Fernando Alonso will be an important part of the rebulding process. In the meantime we should remember Di Montezemolo’s 23-year tenure for its success rather than this current mess.
