It kinda came out of the blue, but Luca di Montezemolo has resigned as chairman of Fiat. In his own words, the 62-year-old had "finished the task" he started in 2004. His successor is 34-year-old John Elkann, grandson of the late Gianni Agnelli (a giant of Italian industry). Montezemolo won't retreat into the shadows, though. He'll still be head of Ferrari, will remain on Fiat's board, and declared recently that he'd like to see a third Ferrari on the Formula One grid, driven by bike race ace Valentino Rossi. Rumors abound that Montezemolo was considering going into politics, perhaps even starting his own party. It could be a good fit. Having negotiated the F1 world, famously referred to as The Piranha Club in Timothy Collings' book of the same name, politics should be a walk in the park. And if he needed help in dealing with Germans, he could always ask Max Mosley.