► Ferrari CEO Amedeo Felisa retires
► Replaced by Fiat boss Sergio Marchionne
► What it all means for Maranello
It's all change at the top of Ferrari, as the world's best-known supercar company announced its chief executive officer Amedeo Felisa will step down after eight years in charge - to be replaced by the company's chairman.
Yes, that means Sergio Marchionne now runs Ferrari day-to-day with immediate effect, in addition to his duties as chairman. And as CEO of Fiat Chrysler Automobiles (FCA), the parent company of Fiat and Chrysler. His is surely one of the busiest briefs in the auto industry.
The news came as Ferrari announced a record first quarter, with 1882 cars sold, revenues jumping 9% to €675m (£532m) and profits rising by a fifth to €78m (£61m).
What next for Ferrari now Marchionne's CEO?
It's too early to say for sure. But the 64-year-old Italian-Canadian boss is sure to bring some fresh perspectives to Maranello, as he tightens his control over the prancing horse.
Marchionne replaced Luca di Montezemolo as chairman in 2014, and led the decision to spin off Ferrari with a separate stock market listing in 2015. He's worked in the car industry since 2003, but it's worth remembering his outsider's perspective; he originally trained as a barrister and chartered accountant before joining Fiat 13 years ago.
We wouldn't go expecting a Ferrari SUV any time soon, but Machionne is known to favour more change in Modena. The push into merchandising is part of his plan to position Ferrari as a luxury goods maker, rather than just a supercar manufacturer.
Amedeo Felisa: a potted history
The outgoing Felisa, 69, worked at Maranello for 26 years and will continue to serve on the board of directors as a technical advisor.
He has been CEO of Ferrari since 2008. He presided over the launch of the hybrid LaFerrari and the 'turbofication' of common V8 Ferraris, such as the new 488 GTB (below).
'I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years,' said Marchionne. 'He is beyond any doubt one of the best automotive engineers in the world.
'During the last 26 years, he has worked tirelessly to fuel and guide Ferrari’s technical development, producing an array of cars which have set the standard for both performance and styling.'