Luca di Montezemolo says he is not leaving Ferrari and that he wants to turn the team around while the car company enjoys "a fantastic moment".

Rumours have been growing that Montezemolo would be replaced as president at Ferrari, with the F1 team in a transition period following the replacement of team principal Stefano Domenicali with Marco Mattiacci earlier this year. However, making his customary appearance in the Monza paddock ahead of the Italian Grand Prix, Montezemolo vigorously denied that he would leave.

"I've heard a lot of rumours regarding myself," Montezemolo said. "This is often happening in the summer in Italy, maybe this time is a little bit too much. I am working, I am here not to have a vacation, I am here because we are working very hard.

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"We have in front of us very important months, we will present a fantastic new car in the Paris motor show at the beginning of October, we will be in Los Angeles with 600 Ferraris coming from all over the United States to celebrate 60 years of Ferrari and we are preparing a unique, unbelievable car to celebrate this event. Only 10 cars for our best American collectors. We are working with Mattiacci to improve the organisation, to improve Formula One.

"I will say that this is the first race without a person that has been very close to me - Stefano Domenicali - that has been important to the Ferrari life and my life. The results in the sport are crucial and that's what happened to Domenicali.

"We have to improve the team, we have to reorganise, we have to look ahead. So I am very, very busy. I told that I was ready to accept, last March, three more years to my shareholders and particularly to my people in Ferrari. The men and women in Ferrari to me are the most important part of my life and I took a commitment with them.

"We are preparing an historic record at the end of this year in terms of financial and economic results, Ferrari is facing a fantastic moment. So that's it. If and when there will be some news about me, I will be the first - I emphasise the first - to let you know."

And Montezemolo said it was important to remember how successful Ferrari has been under his guidance in the past.

"What I am pleased is to be the chairman of a company that is in 63 countries in the world and with big success and we are working in the next weeks to beat the historic record in financial and economic results and at the end of the day even if I am not happy of the situation today in Formula One, we are the most successful team from 2000 until now. In the last 50 years this is Ferrari and we want to start again to win because it is not good to lose the championship."