Ferrari's boss the best paid in Fiat group

Ferrari Chairman Luca Cordero di Montezemolo's salary in 2010 was more than twice that of Fiat boss Sergio Marchionne, making him the best-paid executive in the whole Fiat Group.

According to full 2010 results published this week, Montezemolo, who was Fiat's chairman until last April, was paid 8.7 million euros (USD 11.97 million) in 2010 while Marchionne got 3.5 million euros.

Marchionne, at the helm of Italy's biggest industrial group since 2004, got 3.050 million euros for his role in Fiat, which owns 25% of U.S. maker Chrysler, and 423,300 euros for his role in the Swiss unit Fiat Switzerland SA.

Montezemolo was paid 7.549 million euros for his role in Ferrari and 1.033 million euros for his role in Fiat between 2004 and 2010.

Fiat's chairman John Elkann, scion of the Agnelli family which controls Fiat, got 589,000 euros.

All other Fiat board members were awarded between 65,000 and 95,000 euros.