Ferrari: CEO Louis Camilleri resigns with immediate effect

Ferrari CEO Louis Camilleri has resigned from office with immediate effect. "For personal reasons", the Maltese manager leaves his position at the Maranello company and the presidency of the tobacco giant Philip Morris. At Ferrari I am already working to find a successor, currently the post will be occupied by John Elkann ad interim.

Identifying the ideal figure to manage the production of the Ferrari product and the Formula One team will not be an easy task . The research will aim at identifying the right profile: no hurry, therefore, the best solution must not be the most hasty one.

A void that weighs

Louis Camilleri had been assigned to the position of administrator Ferrari delegate in July 2018 after the death of Sergio Marchionne. Welcomed with skepticism, Camilleri proved to be a skilled manager over the two years, capable of consolidating the prestigious image of the brand around the world. The same cannot be said of the world of competition: the Formula One team still struggles to find a winning dimension.

"I have no doubt that I can count on all of you for the unique commitment and dedication that are the hallmark of Ferrari. We have a clear and ambitious strategy and will continue to follow it. For my part, I will take on the role of interim CEO with a deep sense of pride and responsibility towards all of you, Ferrari people, who never cease to define who we are and who make a difference every day ", is what is written in the letter that Elkann sent to the employees of Maranello.

Uncertain period

“As a longtime member of the Board of Directors, Louis has shown an unwavering sense of responsibility by ensuring continuity to our organization, guiding Ferrari into the future with a ambitious and forward-looking strategic plan. His commitment was total, like his loyalty to the principles of our founder Enzo Ferrari. Louis' leadership and passion drove Ferrari to exceptional results, often reaching or exceeding the challenging goals he had set himself. We have opened a completely new chapter to create, with the record of five new models presented last year, the most complete range of products in our history ".

Camilleri's resignation comes at a particularly tense time for FCA group. The pandemic has put and is putting a strain on the financial strength of the group. Furthermore, the next few months will be decisive for concluding the important merger with the French group PSA, giving life to the Stellantis conglomerate. Among the possible successors, the names of Vittorio Colao, Jonathan Paul Ive as well as Diego Piacentini and Luca Maestri of Apple have been indicated.