Di Montezemolo to quit FOTA presidency

Ferrari president Luca di Montezemolo has said that he is planning to step down as president on the Formula One Teams Association (FOTA) at the end of this year to concentrate on his role as Ferrari and Fiat president.

Talking to Autosprint, di Montezemolo explained, “I took up the president role because I felt it was good to have teams competing on the track, and talking out of it like sports professionals. This is what we did. However, I have another job and I can’t do everything. So, I really think that I will step down at the end of the year.”

Di Montezemolo has been president of FOTA since it was formed in July 2008. He has been Ferrari president since 1991.