Former Ferrari F1 mastermind to take up role in McLaren's road car arm
The move comes as McLaren Group Holdings makes key changes to its leadership team
Former Ferrari chief Luca Di Montezemolo has been appointed as a director of the McLaren Group Holdings Limited, which controls the McLaren Automotive business and has a minority stake in the Formula 1 team.
On Friday, McLaren Group Holdings Ltd made a Companies House filing in the UK to appoint Di Montezemelo to its board of directors, which will see the Italian become the ninth director of the company.
Di Montezemolo was a key figure behind Ferrari's F1 resurgence in the late '90s and served as chairman at the Italian powerhouse until 2014.
He has now joined the McLaren Group Holdings Limited, which controls the automotive side of the business and has a minority stake in McLaren Group, which its racing teams fall under, but his scope is understood to be limited to the road car business.
"My heart is and will always remain red, I have become a board member of McLaren Automotive, which produces road cars, and is not involved in F1," Di Montezemolo was quoted by Italian news agency ANSA.
The appointment comes after Abu Dhabi-based investment firm CYVN Holdings finalised its takeover of McLaren Automotive under the UK-based McLaren Group Holdings Limited umbrella in April.
Mark Webber, Andrea Stella, Team Principal of McLaren and Luca di Montezemolo
Photo by: Zak Mauger / Motorsport Images
CYVN said in April its strategy for McLaren's road car business will include expanding into "high-performance and luxury sectors, setting a new benchmark for excellence, and transforming McLaren into a high-performing British automotive business on the global stage."
In May it installed Nick Collins as the new McLaren Automotive CEO, who serves alongside Di Montezemolo on the board of directors. Earlier this week, McLaren Group chairman Paul Walsh was also added to the same board.
Meanwhile, McLaren Racing - and its parent company McLaren Group - is still majority owned by Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain.
Autosport has reached out to McLaren Automotive for comment.
Share Or Save This Story
Exclusive: Andretti blown away by 'unexpected' Cadillac F1 chassis tribute
Piastri explains cause of Australian GP pre-race crash
Piastri out of Australian GP after crash on way to grid
How Honda’s F1 crisis could impact its MotoGP division
Exclusive: Andretti blown away by 'unexpected' Cadillac F1 chassis tribute
Boardroom wrangling to points on debut: Audi's long journey towards its bright start in Australia
Why Wolff and Horner are interested in Alpine F1 shares
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments