Ferrari SpA names Amedeo Felisa to succeed Jean Todt as CEO.

Felisa, 62, moves up from general manager, having also held several lesser positions, beginning with product-development director when he joined the auto maker in 1990.

Todt steps down voluntarily but retains the title of board president at both Ferrari Asia Pacific and Ferrari West Europe.

In a statement, the auto maker praises Todt for “the extraordinary human and professional contribution he has made over the last 15 years.”

Ferrari’s board also renews the appointment of Luca di Montezemolo and Piero Ferrari as president and vice president, respectively.