Ferrari chief not to quit - Fiat

MILAN, July 9 (Reuters) - Italian industrial group Fiat SpA FIA.MI on Friday denied a media report saying the chairman of its Ferrari sports car brand, and former chairman of Fiat, would soon be replaced.

Luca Cordero di Montezemolo, who stepped down from the Fiat post earlier this year, has been reported to be interested in a move into politics after last year starting his own think-tank Italia Futura.

On Friday, Libero newspaper said Andrea Agnelli, part of the family dynasty that controls Fiat, would take over as president of Ferrari from Montezemolo. But in a statement Fiat said the report was without any foundation.

Speculation that Montezemolo would enter politics was rekindled by a recent interview with the Financial Times, in which Montezemolo did not deny this as a future possibility once Prime Minister Silvio Berlusconi leaves the scene.

Sixty two year old Montezemolo has been chairman of Ferrari since 1991. In 2004 he became president of Italy’s employers group Confindustria for four years and soon after Fiat chairman. (Writing by Nigel Tutt)