Fiat chief executive Sergio Marchionne has insisted that he wants to push Ferrari to achieve its "true potential" after agreeing to take over as chairman.

Luca Di Montezemolo confirmed today that he will step down from his role as chairman next month after almost 23 years with the Formula 1 team.

"Luca and I have discussed the future of Ferrari at length," said Marchionne. "Our mutual desire to see Ferrari achieve its true potential on the track has led to misunderstandings which became clearly visible over the last weekend. I want to thank Luca for all he has done for Fiat, for Ferrari and for me personally."

The team are currently fourth in the constructors' championship standings.