Chase Carey and Toto Wolff pay tribute to Sergio Marchionne. Chase Carey has labelled Sergio Marchionne’s contribution to the sport as “immeasurable”.

Irish-American executive Chase Carey, who is the chief executive officer and executive chairman of the Formula One Group, has labelled Sergio Marchionne’s contribution to the sport as “immeasurable”, in the wake of the ex-Ferrari chief’s passing on Wednesday. Marchionne was credited with revitalising the fortunes of Fiat and Chrysler, and was appointed to the role of Ferrari Chairman and CEO in 2014.

Ferrari announced on Saturday that Marchionne had been taken unwell and consequently relinquished his roles, with John Eklann named Chairman and Louis C. Camilleri CEO. On Wednesday, Exor NV, the holding company of Fiat’s founding Agnelli family, confirmed the passing of Marchionne at the age of 66.

Chase Carey led the tributes to Sergio Marchionne, commenting: “We are deeply saddened by the passing of Sergio Marchionne. He was a great leader of not just Formula 1 and the automobile world, but the business world overall. He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable. He was also a true friend to all of us and he will be deeply missed. At this difficult time we extend our deepest sympathies to his family, friends and colleagues.”

Mercedes boss Toto Wolff also expressed his condolences to Marchionne’s friends and family: “This is a sad day for all of us in F1,” said Wolff – “We have a lost a huge supporter of our sport, a fierce competitor, an ally and a friend. Our heartfelt sympathies are with Sergio’s family and all at Ferrari at this difficult time.”