Nov 6, 2014 5:59 AM

Former Ferrari chairman headed to Alitalia

The Associated Press

MILAN (AP) Italian newspaper Il Messaggero says Ferrari's long-time chairman, Luca Cordero di Montezemolo, is heading to Alitalia as the new chairman.

The newspaper says the Italian airline's board designated Montezemolo during a meeting on Wednesday and confirmation by shareholders is expected later this month. Alitalia's press office declined comment on the report.

Alitalia is reshuffling its management after the takeover by Emirates-based Etihad. Il Messaggero said Etihad CEO James Hogan would be Alitalia's vice chairman.

Etihad bought a 49-percent controlling stake in Alitalia this summer, making it the largest shareholder alongside a consortium of Italian entrepreneurs and banks.

Montezemolo resigned from Ferrari last month after decades at the helm in a spat with the CEO of Fiat Chrysler Automobiles, which owns the luxury sports car maker.


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