Fiat awards outgoing Ferrari chairman 26.95 million euro severance


LONDON (Reuters) - Fiat Chrysler's outgoing chairman of its sports car division Ferrari will receive a combined severance package of 26.95 million euros (22 million pounds), with nearly half to be paid in a lump-sum by next February, the company said on Wednesday.

Luca Cordero di Montezemolo, chairman of Italian luxury sports car maker Ferrari, is quitting to be replaced by the boss of parent group Fiat after the two men clashed over strategy and the Formula One team's poor results.

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