Ferrari CEO to quit

Sergio Marchionne (R) to fill-in temporarily

Ferrari is facing a major loss this week as its CEO is rumored to be leaving the company.

Ferrari The sports car manufacturer will soon by searching for a new boss as current CEO Amedeo Felisa is likely to announce his retirement this week when Ferrari names a new board of directors.

A replacement has yet to be determined, but it is likely that Fiat Chrysler CEO Sergio Marchionne will take over temporarily. Ferrari was spun off from Fiat. Felisa will remain a board member of the company.

Marchionne took charge of the luxury vehicle maker's spinoff from Fiat Chrysler, replacing longtime boss Luca Cordero di Montezemolo.