Rocco Benetton
Encyclopedia
Rocco Benetton is the former chief executive of the Benetton Formula One team.
which founded the Benetton Group S.p.A.
clothing company in 1965. After studying Mechanical Engineering
in the United States at Boston University
, he moved to New York
where he worked in hedge funds for Oppenheimer & Co. and Alpha Investment Management. At the latter, he served as Managing Director.
. Rocco started out as commercial director, working alongside chief executive David Richards
. Richards tried to convince the family that it was necessary to sell some of the shares in the team to the Ford Motor Company
, in order to get a factory engine supply. The Benettons did not agree so Richards departed in October 1998 and Rocco was appointed chief executive, the youngest in F1 at the time. He disappeared from F1 when the team was sold to Renault
at the start of 2000.
Personal background
He is the son of Luciano and Maria Teresa Benetton and a member of the Italian Benetton familyBenetton family
Four members of the Italian Benetton family founded the Benetton Group S.p.A. fashion company in 1965. The three brothers and one sister were all born in Treviso, Veneto, Italy. Their father owned a bicycle shop...
which founded the Benetton Group S.p.A.
Benetton Group
Benetton Group S.p.A. is a global luxury fashion brand, based in Treviso, Italy. The name comes from the Benetton family who founded the company in 1965. Benetton Group is listed in Milan....
clothing company in 1965. After studying Mechanical Engineering
Mechanical engineering
Mechanical engineering is a discipline of engineering that applies the principles of physics and materials science for analysis, design, manufacturing, and maintenance of mechanical systems. It is the branch of engineering that involves the production and usage of heat and mechanical power for the...
in the United States at Boston University
Boston University
Boston University is a private research university located in Boston, Massachusetts. With more than 4,000 faculty members and more than 31,000 students, Boston University is one of the largest private universities in the United States and one of Boston's largest employers...
, he moved to New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
where he worked in hedge funds for Oppenheimer & Co. and Alpha Investment Management. At the latter, he served as Managing Director.
Career in F1
In September 1997, he was called back to Europe to take a position in the Benetton Formula One team following the departure of chief executive Flavio BriatoreFlavio Briatore
Flavio Briatore is an Italian businessman. During the 1980s, he was convicted for multiple counts of fraud, receiving two prison sentences, only one of which he served. As a fugitive from Italy, he set up restaurants and then a number of successful Benneton franchises in the Virgin Islands and the...
. Rocco started out as commercial director, working alongside chief executive David Richards
David Richards (racing)
David Pender Richards CBE is the chairman of Prodrive and Aston Martin, and a former team principal of the BAR and Benetton Formula One motor racing teams. He lives with his wife, Karen, in Warwickshire and has three children....
. Richards tried to convince the family that it was necessary to sell some of the shares in the team to the Ford Motor Company
Ford Motor Company
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the UK...
, in order to get a factory engine supply. The Benettons did not agree so Richards departed in October 1998 and Rocco was appointed chief executive, the youngest in F1 at the time. He disappeared from F1 when the team was sold to Renault
Renault
Renault S.A. is a French automaker producing cars, vans, and in the past, autorail vehicles, trucks, tractors, vans and also buses/coaches. Its alliance with Nissan makes it the world's third largest automaker...
at the start of 2000.