Ferrari CEO Abruptly Retires

by Matt Posky

Published: December 11th, 2020

Ferrari CEO Louis Camilleri has abruptly resigned from the company with the official announcement providing few details to build upon. Despite numerous news outlets fixating on his testing positive for COVID-19 and subsequent hospitalization, Ferrari failed to mention it in the release. But Reuters had reported that an inside source had claimed Camilleri, 65, had suffered health complications that required him to be hospitalized for weeks, adding that he was also stepping down as executive chairman of Philip Morris International.

However, he’s now said to be recovering at home and the coronavirus diagnosis apparently had nothing to do with his decision to retire. Ferrari only cited “personal reasons” and stated it had already begun considering his replacement, noting that it had no intention of rushing the process.

“Ferrari has been a part of my life and serving as its Chief Executive has been a great privilege,” the departing CEO said in a prepared statement. “My admiration for the extraordinary men and women of Maranello and for the passion and dedication they apply to everything they do, knows no bounds. I’m proud of the Company’s numerous achievements since 2018 and know that Ferrari’s best years are still to come.”

Camilleri was appointed to head Ferrari in July 2018 after the sudden death of former CEO Sergio Marchionne. Chairman John Elkann (grandson of Gianni Agnelli) will lead the company on an interim basis, according to a corporate statement from the manufacturer.

“I would like to express our most sincere thanks to Louis for his unstinting dedication as our Chief Executive Officer since 2018 and as member of our Board of Directors since 2015,” said Elkann. “His passion for Ferrari has been limitless and under his leadership the Company has further affirmed its position as one of the world’s greatest companies, capitalising [sic] on its truly unique heritage and unerring quest for excellence. We wish him and his family a long and happy retirement.”

We’re sure he’ll be getting one hell of a wristwatch as a sendoff.

[Image: Ferrari]

#Ferrari #HiringAndFiring #Jobs #JohnElkann #LouisCamilleri

Matt Posky

Consumer advocate tracking industry trends and regulations. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied, he pivoted to writing about cars. Since then, he has become an ardent supporter of the right-to-repair movement, been interviewed about the automotive sector by national broadcasts, participated in a few amateur rallying events, and driven more rental cars than anyone ever should. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and learned to drive by twelve. A contrarian, Matt claims to prefer understeer and motorcycles.

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Stellantis Guy on Dec 12, 2020

How does Ferrari get away with so blatantly copying the Mustang logo?

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- Lorenzo on Dec 13, 2020
  
  Heh. You can't be that dense.
  
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- Stellantis Guy on Dec 13, 2020
  
  Gift ideas: https://www.etsy.com/listing/838595567/ferrari-ford-mustang-joke-shirt https://www.redbubble.com/i/t-shirt/Mustang-logo-Ferrari-Theme-by-NlCK/34607254.IJ6L0 https://www.redbubble.com/i/t-shirt/Mustang-Shift-Pattern-by-Firecat001/29901281.FB110.XYZ
  
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Lorenzo on Dec 13, 2020

The word "capitalise": older British spelling. The word "capitalize": common American spelling. You can blame Teddy Roosevelt, the man who took the "u" out of color and several other words, for the disparity, but both are correct.

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- Inside Looking Out on Dec 13, 2020
  
  It is more that: https: wikipedia.org/wiki/English-language_spelling_reform#:~:text=Spelling%20reform%20proposals,-See%20also%3A%20List&text=Most%20spelling%20reforms%20attempt%20to,for%20greater%20regularity%20in%20spelling.
  
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