Allison out at Ferrari, Binotto in

As we mentioned last week, the rumors were ripe that James Allison could be leaving Ferrari and now it seems those rumors have become reality. Ferrari said:

Ferrari N.V. (“Ferrari”) (NYSE/MTA: RACE) announces that after three years of working together, Scuderia Ferrari and James Allison jointly decided to part ways.

Maurizio Arrivabene, Team Principal of Scuderia Ferrari, commented as follows:

“The Team would like to thank James for his commitment and sacrifice during the time spent together, and wishes him success and serenity for his future endeavors.”

James Allison stated:

“During the years I spent at Ferrari, at two different stages and covering different roles, I could get to know and appreciate the value of the team and of the people, women and men, which are part of it. I want to thank them all for the great professional and human experience we shared. I wish everybody a happy future with lots of success.”

Mattia Binotto will take on the role of Chief Technical Officer at Scuderia Ferrari.