After 23 years at Ferrari Luca di Montezemolo has left. With approx 2 years of his contract to run he has been paid EU27m. 13m of which was a "No Compete" payment to prevent him from doing business that would compete with the Fiat group. In my view the settlement is excessive to a pornographic standard for a company whose core components Fiat and Chrysler have both benefitted from public monies in the past. For one that resides in a country with significant economic challenges it is outrageous. Luca di Montezemolo did a lot for Ferrari to modernise it. After buying a 348 to celebrate his succesful organisation of the 1990 Italian World Cup, quality issues famously caused him to tell the company that it was a "heap of ~~~~". If legend is correct the company said "if you think you can do better then you have a job." The first product of his tenure was the gorgeous 355. Many other stunning products followed. He did a great job. However over 23 years I am sure he was richly rewarded and is now a wealthy man. Lets talk about the amount. What is 27 million euro? Fiat is Italys largest private employer. That would conservatively employ 1125 Italians for a year. Or 112 Italians for 10 years, or if you like 12 Italians for 100 years? If as some predict he may want to move into politics is it wise to accept such a payment? Is it reasonable that one man paid handsomely for his work who then reaches the end of his tenure be paid hugely "to garden"? Here in the UK we have endured a culture of masive payouts for a chosen few in publicly owned organisation such as the BBC. It seems to have no been seen to be so enraging to the taxpayer that finally has slowed or stopped. Some say that it was cleaning house and re structuring to facilitate a smooth stock flotation for the parent company FCA next month. The new holding company is to be incorporated in the Netherlands; FCA will be listed on the New York Stock Exchange with an additional listing on the Mercato Telematico Azionario in Milan to follow. (Source Wikipedia) So what do you think? Should he have got 27 million to leave?