Marchionne steps down from Ferrari role

Ferrari CEO Sergio Marchionne has been forced to suddenly step down from his role due to ill-health. A statement issued by the Italian brand's parent company Fiat Chrysler confirmed that Marchionne would not be able to return to work due to complications following surgery.

John Elkann will replace Marchionne as Ferrari chairman, with Louis Camilleri nominated to full the role of CEO, with Camilleri in charge immediately.

"He taught us to think differently and to have the courage to change, often in unconventional ways, always acting with a sense of responsibility for the companies and their people," Elkann said of Marchionne.

Having replaced Luca Di Montezemolo as Scuderia president in 2014, Marchionne had begun to put in place a restructure of the ailing team which has now begun to bear fruit.

Although they remain without a drivers' title since 2007 and team crown since 2008, the turnaround has been clear.

In 2014, Ferrari finished fourth in the constructors' standings, some 485 points adrift of Mercedes. Last year they were the Silver Arrows' closest rivals, and they lead both championships after 10 races, with Sebastian Vettel ahead of Lewis Hamilton, having seen a title charge last year fall short late in the campaign.

Having re-established Ferrari as a force in F1, Marchionne has spent much of the past year threatening to pull the team out of the sport, amid dissatisfaction with Liberty Media's proposals for 2021 and beyond.

Changes to engine regulations and the introduction of budget caps were at the sharp end of Marchionne's ire and it remains to be seen whether Camilleri and Elkann will resume the crusade against F1's American owners.