Ferrari says it would veto Toto Wolff's appointment to the top job in Formula 1.

After presiding over six consecutive world championships at Mercedes, the 47-year-old Austrian has been linked with replacing Chase Carey at Liberty Media.

But Ferrari has a unique and controversial right of veto, and CEO Louis Camilleri warns that Maranello would wield that power if the Wolff speculation is true.

"Anybody who has been an active and important player in a certain team within the last years to take on the responsibility at Formula 1 would create a conflict of interest," he said at Ferrari's end-of-year dinner.

"Our veto is the last resort tool," Camilleri added. "Should we be confronted with that, we would explain our position quite clearly to the folks at Liberty."

Camilleri said he thinks American Carey, who took over from Bernie Ecclestone in 2017, has done "a pretty good job" as F1 chief executive.

"He's come out from a world that's really entertainment. He had no background in Formula 1," he said.

"I think you need a CEO because it's a public company. You need a CEO who has experience in essentially the entertainment business."