‘Ex-Ferrari F1 team boss Stefano Domenicali to be Lamborghini’s new CEO’

Stefano Domenicali, who headed Ferrariu0027s Formula One team until 2014, could be appointed as the new chief executive of Volkswagen Italian brand Lamborghini, Sueddeutsche Zeitung...

By:Updated: Mar 20, 2016 8:37 PM

Stefano Domenicali, who headed Ferrari’s Formula One team until 2014, could be appointed as the new chief executive of Volkswagen Italian brand Lamborghini, Sueddeutsche Zeitung reported on Saturday, citing industry sources.

He is expected to replace current CEO Stephan Winkelmann, who has headed the supercar manufacturer since 2005, in the coming months, the German daily said.

In turn, Winkelmann could join Audi sports unit Quattro GmbH, the report said.

“This is speculation and has not yet been confirmed,” a spokesman for Lamborghini said in emailed comments, not elaborating further.

Audi was not immediately available for comment.

Domenicali currently works for Audi, where he holds the role of “vice president for new business initiatives”, according to his LinkedIn account. Media reports suggested Domenicali had been hired by Audi to prepare a potential move into Formula One.

Volkswagen, Europe’s largest carmaker, is under immense pressure after it admitted to cheating U.S. diesel emissions tests and falsifying carbon dioxide emissions.

One source familiar with the matter told Reuters earlier this month the company had to consider divesting luxury car brands, including Lamborghini, to rake in cash it badly needs to cover fines, lawsuits and vehicle refits.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News