At the Annual General Ferrari Stockholders' Meeting, Chairman Luca di Montezemolo announced Jean Todt's decision to resign his membership of the Ferrari Board of Directors and as well as all of the other positions he holds within the Company. "Jean Todt has been one of the leading protagonists of the Ferrari story of the last 15 years," declared Montezemolo. "Skill and passion have always characterised his work and have won him the respect and affection of my staff, the Company as a whole and Prancing Horse enthusiasts everywhere."