Luca di Montezemolo has dismissed speculation that he could quit his post as Ferrari president.
The 66-year-old has been charge the famous marque since 1991, but he was linked with a move to Italian national airline Alitalia last week following a buyout from Abu Dhabi's Etihad.
The Italian was reportedly being lined up to take over as chairman, but he has turned down the position with El Mundo Deportivo quoting him as saying "after my family there is nothing more important than Ferrari".
However, he may still take on the role a non-executive chairman on the board as long as it "does not interfere with his responsibilities to the Prancing Horse".
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