David Rosenthal

So the choice is kind of made for them.

They have to side with Sergio.

Because they have to go public and he's kind of the guy to run it as a public company.

I mean, taking Ferrari public is part of the plan of how this whole thing is going to work.

Yeah.

Do you think Luca was not a public company CEO?

I think Luca probably had zero interest in taking Ferrari public.

And I think he had even less than zero interest in using proceeds from the Ferrari IPO and the other financial engineering that we're about to talk about to save Chrysler and Fiat.

Luca did not care about any of that.

Yes, yes.

So in September 2014-

Sergio unceremoniously fires Luca as chairman of Ferrari.

The pretext is that the Ferrari F1 team has performed poorly in recent years, but... Which was true.

I mean, was true, but like, for God's sakes, just a few years earlier, Luca had engineered, you know, the greatest dynasty in Formula One history with Schumacher and Braun and Todd.

And like, you know, everybody knows what's really going on here.

Yeah.

Also, part of the reason that the Ferrari Formula One team wasn't performing well at this point in time was that Formula One had switched to hybrid powertrains and Fiat never developed hybrid technology.

So Ferrari didn't have anywhere to turn to to get a head start like some of the other manufacturers that could turn to hybrid technology.

So it was going to take a while for Ferrari, no matter what.

At the end of the day, though, it's sad.