It was confirmed on October 25th that Jean Todt has been appointed as the new Chief Executive Officer of Ferrari S.p.A., after the board of directors met in Turin under President Luca di Montezemolo. Amedeo Felisa was also appointed as General Manager of Ferrari S.p.A. in place of Renato Pagliaro, who has resigned.

Todt, principal of the Ferrari Formula One team, is thought to be reducing his involvement in F1 in the future. Meanwhile, technical director Ross Brawn is speculated to be taking a sabbatical year in 2007 and may return in 2008 to take over Todt's position.

Ferrari is shortly expected to reveal more of its F1 team management restructure in the wake of Michael Schumacher's retirement. The Maranello-based squad has already announced Felipe Massa and Kimi Raikkonen as it race drivers for next season.