Ferrari drivers and team honour Marchionne in Hungary

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Crew members of Scuderia Ferrari as well as Sebastian Vettel and Kimi Raikkonen will all wear a black armband in Hungary this weekend as the Italian squad honours the memory of Sergio Marchionne.

The 66-year-old chairman and CEO of Ferrari, and the talented auto executive who turned around the fortunes of both Fiat and Chrysler, passed away yesterday as a result of medical complications that occurred after a shoulder surgery.

Formula 1's tributes pour in for Sergio Marchionne

A wave of tributes from the auto industry and Formula 1 have poured in since Marchionne's passing, and with the Scuderia on deck this weekend in Hungary, the entire team will show is respect for their former tireless leader.

Scuderia boss Maurizio Arrivabene, Vettel and Raikkonen were all excused from media duties on Thursday at the Hungaroring.

Ferrari flags gracing the team's motorhome shall also be flying at half-mast this weekend.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.