Montezemolo steps down as Fiat head
|Wednesday, April 21st 2010, 09:04 GMT|
Ferrari president Luca di Montezemolo has announced that he will step down as chairman of the Fiat group.
The Italian will be replaced by 34-year-old John Elkann, scion of the Agnelli family that controls the group.
Di Montezemolo had been the Fiat chairman for the past six years, during which the car maker enjoyed a significant revival when it was struggling financially.