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Ferrari's Board expands

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Shareholders of Formula One car maker Ferrari have agreed to increase the numbers on the Board of Directors from seven to 11 members.

During the meeting in Maranello anounced the following new members: Gabriele Galateri, Alessandro Barberis, Diego Della Valle and Romano Minozzi.

Ferrari is majority owned by Turin-based industrial giant Fiat which in turn is controlled by the Agnelli family.
Two weeks ago it was rumoured that Ferrari would buy Juventus, the Serie A club which is also run by the Agnelli family.

Ferrari is to seek a Milan stock market listing in an attempt to clear debts in the region of EUR530m ($477m).