A day after the season finale in Abu Dhabi, the Ferrari Formula 1 Team has announced that Maurizio Arrivabenne will replace Marco Marriacci as the new Team Principal for Ferrari for 2015.

Arivabenne joins Ferrari from Philip Morris Tobacco, one of the biggest sponsors of the Ferrari Formula 1 Team. He has held a number of positions at Phillip Morris which finally resulted in his position as Vice President Consumer Channel Strategy and Event Marketing in 2011. He’s also and independent member of the board of Juventus FC since 2012.

“We decided to appoint Maurizio Arrivabene because, at this historic moment in time for the Scuderia and for Formula 1, we need a person with a thorough understanding not just of Ferrari but also of the governance mechanisms and requirements of the sport,” said the Fiat and Ferrari Chairman, Sergio Marchionne.

“Maurizio has a unique wealth of knowledge: he has been extremely close to the Scuderia for years and, as a member of the F1 Commission, is also keenly aware of the challenges we are facing.

“He has been a constant source of innovative ideas focused on revitalisation of Formula One. His managerial experience on a highly complex and closely regulated market is also of great importance, and will help him manage and motivate the team. I am delighted to have been able to secure his leadership for our racing activities.”

Marchionne also thanked the outgoing Team Principal, Marco Mattiacci for his 15 years of service to the company.

“We would also like to thank Marco Mattiacci for his service to Ferrari in the last 15 years and we wish him well in his future endeavors.”

Arrivabene’s arrival makes him the third team principal for Ferrari in the year. Although the appointment of Arrivabene will be more permanent one for the team.