Even though speculation from certain media outlets suggested that Ferrari team boss Jean Todt was on the verge of announcing his departure from the Maranello based squad, it has been confirmed today that you really can’t believe a lot of what you read as this scenario couldn’t be any further from the truth if they tried.

In fact, the truth of the situation is that the Ferrari S.p.A. Board of Directors met in Turin today and under the presidency of Luca di Montezemolo they appointed Jean Todt as Chief Executive Officer of Ferrari S.p.A.

One other appointment made was that of Amedeo Felisa as General Manager of Ferrari S.p.A, joining the Board in place of Renato Pagliaro, who has resigned. Further structural changes within Ferrari are expected to be announced in the coming days.