Montezemolo rejects Ferrari quit reports

Aug.11 (GMM) Luca di Montezemolo has rejected claims he could be set to quit his post as Ferrari president.

Reports late last week suggested the Maranello marque's long-time and colourful figurehead had decided to leave Ferrari in order to lead the Italian national airline Alitalia.

Alitalia chief executive Gabriele Del Torchio told the Corriere della Sera newspaper last week he was ready to leave the airline in the wake of a rescue deal with Abu Dhabi's Etihad.

Etihad, buying nearly half of Alitalia, has solid links to formula one and Montezemolo, including having sponsored the fabled Italian team.

According to Spain's El Mundo Deportivo, however, Montezemolo rejected the speculation on the basis that "after my family, there is nothing more important than Ferrari".

But the same report claimed Montezemolo had been "instrumental" in the Alitalia-Etihad merger, and is not ruling out joining the board with a non-executive role that "does not interfere" with his responsibilities at Ferrari.