Revving Up Success: Luca Di Montezemolo Shifts Gears to Join McLaren Automotive Board

P1racenews AI    Nick Collins Paul Walsh

Former Ferrari chief Luca Di Montezemolo has been appointed as a director of the McLaren Group Holdings Limited, which controls the McLaren Automotive business and has a minority stake in the F1 team. Di Montezemolo was a key figure behind Ferrari’s F1 resurgence in the late ’90s and served as chairman at the Italian powerhouse until 2014. He has now joined the McLaren Group Holdings Limited, which controls the automotive side of the business and has a minority stake in McLaren Group, which its racing teams fall under. The appointment comes after Abu Dhabi-based investment firm CYVN Holdings finalised its takeover of McLaren Automotive under the UK-based McLaren Group Holdings Limited umbrella in April. CYVN said its strategy for McLaren’s road car business will include expanding into “high-performance and luxury sectors, setting a new benchmark for excellence, and transforming McLaren into a high-performing British automotive business on the global stage.” McLaren Automotive recently installed Nick Collins as the new CEO, who serves on the board of directors with Di Montezemolo. McLaren Group chairman Paul Walsh was also added to the same board. Meanwhile, McLaren Racing and its parent company McLaren Group are still majority owned by Bahrain’s sovereign wealth fund, Mumtalakat.

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