04.05.2004 Ferrari confirm that Martin Leach will become Maserati's new CEO while Jean Todt will step up to become Ferrari's Managing Director

The Ferrari-Maserati Group released the following very brief press release today, confirming that former Ford Europe CEO Martin Leach will be taking over the top job at Maserati:

Maranello, 04.05.2004: While Luca di Montezemolo continues to head the Ferrari Maserati Group as its President and C.E.O., the following changes will come into effect as from 1st June 2004:

- Martin Leach takes on the role of Maserati C.E.O;
- Jean Todt takes on the role of Ferrari Managing Director, while maintaining his present responsibilities within the Gestione Sportiva;
- Amedeo Felisa assumes the responsibilities of Ferrari Deputy Managing Director.
- Antonello Perricone leaves Maserati to take on other responsibilities within the Fiat Group.

While Martin Leach's appointment was widely trailed, less so was that of Jean Todt's. The Frenchman, who successfully masterminded Ferrari's Formula One revival in recent years, steps up to become the Managing Director of the Ferrari arm.

This move will allow Group President Luca di Montezemolo to step back from day to day operational decisions, and allow him to spend more time in his new role of promoting Italian business interests internationally.

Martin Leach, who was unable to take up an offer to become the Fiat Group's Auto Division CEO last summer when his former employers Ford activated a, since negated, anti competitive clause, replaces Antonello Perricone as the head of the rapidly expanding Maserati brand.

Leach is highly regarded within the automotive industry for innovative thinking and turning out strong products in a long career with Ford, which was interspersed with a brief spell at Mazda. Ferrari have done well to entice him on board and it keenly demonstrates their commitment to turning Maserati into a serious global force.

He will now take on responsibility for overseeing the replacement of the best selling Coupe and Spyder, increasing the Quattroporte's market share, and developing ever closer ties with Audi, which will include significant technological and manufacturing input into the Kubang SUV.