Oct.26 (GMM) Luca di Montezemolo has proffered an indistinct denial to rumours that Jean Todt's reign at the helm of the Ferrari team is nearing an end.

Frenchman Todt, who has led the Maranello based marque's sporting arm since 1993, is also currently CEO of the entire Ferrari organisation.

"Until further notice he will carry on doing that, while also having the Gestione Sportiva under his wing," di Montezemolo, Ferrari president, said after a Fiat Group board meeting earlier this week.

It is rumoured that Todt and Montezemolo may have fallen out, amid the latter's apparent desire to see Ross Brawn return from sabbatical in charge of the famous formula one team in 2008.

"In any case, we'll announce the team organisation for 2008 at Christmas," the Italian added.