ROME -- Former Ferrari president Luca Cordero Di Montezemolo will lead Rome's bid for the 2024 Olympics.

Italian Olympic Committee president Giovanni Malago made the announcement Tuesday.

The 67-year-old Montezemolo stepped down from Ferrari in October after 23 years as president of the Italian car manufacturer, during which the automaker's Formula One team had some its most successful years.

Montezemolo also co-ordinated the organization for the 1990 World Cup in Italy.

He was named Alitalia's chairman in November.

Italian Premier Matteo Renzi announced Rome's cost-conscious Olympic bid in December.

The host city will be selected in 2017. Boston is the only other declared bidder.