Piero Ferrari, the sole surviving son of Enzo Ferrari, 77, is creating a succession plan for his Ferrari NV shares.
Bloomberg has learned that the Ferrari scion and company chairman has set up a family trust over the past few weeks to oversee his roughly 10% stake in the automaker, which he inherited from his late father. Enzo Ferrari passed away at age in 1988 at age 90.
The Ferrari Enzo, aka the Enzo hypercar, was named in his honor. The younger Ferrari’s trust has three beneficiaries, his daughter Antonella and his two grandsons, Enzo Mattioli Ferrari and Piero Galassi Ferrari.
They are not inheriting everything just yet, as the elder Piero Ferrari will continue to have voting control over the shares for as long as he’s alive.