Luca di Montezemolo has ruled himself out of the running to lead the Italia Futura political party, ensuring his position as Ferrari president remains secure.
After setting up the association in 2009, Italia Futura became a political party last year, seemingly setting up Montezemolo to lead the party. However, such a move could have sparked a conflict of interests with his role as president of Ferrari and Montezemolo has now confirmed he won't be running for a seat in the Italian parliament.
"I will not run for a seat," Montezemolo told La Repubblica. "I will leave it to the many qualified people who have supported and worked for the association in the past few years. It is only fair that they are the key players."
However, Montezemolo did confirm that he would still have a role to play within the party.
"Italia Futura is close to turning into something a lot more widespread and diverse and I won't be the leader of it. I will support it with determination, but not in a position that will lead to any conflicts of interests."