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MILAN Homme Nike Vapormax Flyknit Rouge Soldes , Italy, Sept. 10 (Xinhua) -- Luca Cordero di Montezemolo will quit Ferrari as chairman and will be replaced by Sergio Marchionne, who is also the CEO of parent group Fiat Chrysler Automobiles (FCA) from Oct. 13, a statement from FCA said on Wednesday.


The date of Oct. 13 coincides with the group's planned listing on the New York Stock Exchange.


Since 1991, Ferrari achieved significant results under Montezemolo's chairmanship in terms of both financial performance and its standing in the world of racing, the statement said.


"As chairman of Ferrari, Luca drove the company to a new level of technological and organizational excellence which also brought with it outstanding financial results," Marchionne said in the statement.


However, he highlighted, the mutual desire to see Ferrari achieve its true potential on the track "has led to misunderstandings which became clearly visible over the last weekend," he added.


Ferrari sits in fourth place in the season's standings after Sunday's Italian Grand Prix. The race car has had "unacceptable" performances in the high-profile racing circuit in recent years, Marchionne said earlier this week.


Cordero di Montezemolo commented in the statement that Ferrari will have an important role to play within FCA in the upcoming flotation on Wall Street. "This will open up a new and different phase which I feel should be spearheaded by the CEO of the group," he added.


FCA, which will have headquarters in The Netherlands and tax residency in Britain, was born from the fusion of Italy's Fiat with U.S. Chrysler.


The merger was the culmination of a major industrial project launched in 2009, and resulted in the world's seventh largest auto producer, which could see an output of up to seven million cars per year, according to Marchionne.


Fiat announced in January that it had gained full control of Chrysler after more than a year of negotiations with VEBA, the healthcare trust associated with the United Auto Workers (UAW) which owned the remaining 41.5 percent shares of Chrysler.


Media reports said in the past days that Montezelolo was pushing to keep Ferrari autonomous against Marchionne's efforts to better integrate the business within Fiat to improve the group's placement in the premium end of the car market.


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Tour de France green jersey winner Peter Sagan will join Tinkoff-Saxo next season, the Slovak daily Sport said Tuesday.


It claimed the Russian-owned team would probably officially announce the deal after Thursday's stage of the Tour of Poland.


Although the 24-year-old Slovak, currently with Italian team Cannondale, won the Tour's green jersey for the third year in a row last month, he failed to win a stage this year.


He has had a fairly unsuccessful season by his high standards, with victory at E3 Harelbeke his only major win this season, other than the Slovakian national road race.


He was second in Strade Bianche, third at Gent-Welvelgem, sixth in Paris-Roubaix and 10th at Milan-San Remo.


He also finished second in four Tour stages while coming fourth on another four.


Sagan was courted by Astana as well as the new Spanish team being built for next season by Formula One star Fernando Alonso.


(Agencies)