He is the executive chairman, founding partner and shareholder of Italo S.p.A., the first private high-speed train company in Europe, and founding partner of Itabus, the first private long-distance bus company in Italy, where he served as a Director until April 2023.

He is also Chairman of Manifatture Sigaro Toscano and of Telethon, the most important Italian charity for research into the cure of genetic diseases, and of Charme Capital Partners Sgr SpA, an international private equity fund. He is a member of the board of directors of Tod's Group and Abu Dhabi Motorsport Management.

He served as Chairman of Alitalia from 2014 until May 2017 and was for many years a member of the boards of Unicredit and Kering (formerly PPR luxury group)

He was Chairman of Ferrari Auto S.p.A. from 1991 to October 2014 and has led the company to the highest levels in the fields of design, industrial production and racing. As Sports Director first, and as Chairman later, he won 19 Formula 1 World Constructors' and Drivers' Championships.

He was Chairman of the Fiat Group from 2004 to 2010 as well as President of Confindustria and of the LUISS University of Rome. He served as Chairman and CEO of Maserati S.p.A. from 1997 to 2005 and was Chairman of the Bologna International Trade Fair.

He started his career with the law firm Chiomenti in Rome and the law firm Bergreen & Bergreen in New York. From 1973 to 1977 he served as Assistant to Enzo Ferrari and Team Manager of Scuderia di Maranello, winning two Formula 1 World Drivers' Championship victories with Niki Lauda in 1975 and 1977.

From 1977 to 1981, he was Director of External Relations for the Fiat Group and, from 1981 to 1983, CEO of Itedi S.p.A., the holding company for the Fiat Group's publishing activities, including the daily newspaper La Stampa. From 1984 to 1986, he was CEO of Cinzano International S.p.A. He then held the position of General Manager of the Organising Committee of the World Cup Italia '90. He was President of FIEG, the Italian Federation of Newspaper Publishers.

In 2004, Charme Capital Partners Sgr SpA acquired the Poltrona Frau brand, one of the best known Italian luxury furniture brands, followed by the acquisition of Cassina and Cappellini. In 2006, Charme listed the Poltrona Frau Group on the Italian Stock Exchange in Milan. In the 1990s he bought and relaunched the Acqua di Parma brand, a symbol of glamour and elegance, which was bought by LVMH in 2003.

He is a Knight of Labour and in 2008 was awarded the title of Commandeur de la Légion d'Honneur by the President of the French Republic. In 2001, he was elected 'Man of the Year' by the leading American car magazine, 'Automobile', and, in 2002, by the prestigious British magazine 'Autocar'. He was named one of the fifty best managers in the world by the 'Financial Times' in 2003, 2004 and 2005. In 2012 he was named European Manager of the Year by La European Business Press (EBP), the European association of the continent's leading business newspapers.

In 2015 he was inducted into the Automotive Hall of Fame in Detroit, the most prestigious honour in the international automotive industry He has been awarded four honorary degrees: in Mechanical Engineering from the University of Modena, in Management Engineering from the University of Genoa, in Industrial Design Engineering from the Milan Polytechnic and, finally, in Physics of Materials from SISSA (Scuola Internazionale Superiore di Studi Avanzati) in Trieste.