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Di Montezemolo pays tribute to Todt

Ferrari president Luca di MontezemoloFerrari president Luca di Montezemolo paid tribute to Jean Todt after the Frenchman stepped down as Ferrari's CEO earlier this week.

Di Montezemolo thanked Todt, who left his position as principal of the Formula One team at the end of last season, for his service to the marque in an open letter to Ferrari employees which was printed in Italian newspaper Gazzetta dello Sport.

"I want to thank Jean for his effort, passion, and competence that have been an example to all his co-workers. I know him well and therefore am not surprised by his desire to reduce his operating involvement in Ferrari.

"He is a determined man and true to his word, and having reached the objectives we agreed on when he became CEO he has decided to dedicate a bit more time to himself and to his other interests."

Todt will remain on the Ferrari board after being appointed as director of sports management, and will also continue to represent Ferrari at meetings of the FIA's World Motorsport Council.

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