With the cord cut on Ferrari, FCA focus shifts to five-year plan

FCA has officially set free the Ferrari operations as the listing on the Italian Stock Exchange on 3 January marks the completion of its spin-off. Sergio Marchionne, head of both FCA and Ferrari, announced plans to separate the luxury Italian brand in October 2014, shortly after the completion of the Chrysler merger, the emergence of FCA and the unveiling of an ambitious new turnaround plan. At the time of the announcement, FCA Chairman John Elkann said that the move would "preserve the cherished Italian heritage and unique position of the Ferrari business and allow FCA shareholders to continue to benefit from the substantial value inherent in this business."