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Giovanni Agnelli, left, and Ferrari's general manager Luca di Montezemolo, center, talk to F1 ace Michael Schumacher of Germany at Imola's Enzo and Dino Ferrari track in this June 6, 1996 photo. Fiat's board announced in Turin, Sunday May 30, 2004, that Luca Cordero di Montezemolo has been picked as its new chairman and 28-year-old Agnelli family heir John Elkann as vice-chairman. Soon after the Fiat board's communications the company's CEO Giuseppe Morchio announced his resignation. (KEYSTONE/AP Photo/Paolo Ferrari)