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Ferrari CEO Louis Camilleri Announces Retirement In A Shocking Move

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Louis Camilleri succeeded Sergio Marchionne following his demise in 2018 because the Ferrari CEO. The Italian automaker says it nonetheless must establish a successor.

Louis Camilleri took over the post of Ferrari CEO following the death of Sergio Marchionne in 2018
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Louis Camilleri took over the submit of Ferrari CEO following the demise of Sergio Marchionne in 2018

Louis Camilleri, the Chief Executive Officer at Ferrari SpA has introduced his retirement with rapid impact. The announcement comes out of the blue and is claimed to be for ‘private causes’. The iconic Italian automaker says it nonetheless must establish his successor. Executive Chairman John Elkann will act as interim CEO for now, Ferrari mentioned in an announcement. Camilleri will even hand over his board seat. In addition to Ferrari, Camilleri has additionally retired from his position as Chairman at Philip Morris International Inc. and also will step down from the board on the tobacco producer.

Also Read: Sergio Marchionne, CEO Who Steered Fiat Chrysler, Dies Aged 66

Speaking about his retirement, Louis Camilleri mentioned, “Ferrari has been a part of my life and serving as its chief executive has been a great privilege. 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.”

Executive Chairman and interim Ferrari CEO, John Elkann thanked Camilleri for his time on the firm. In an announcement, he mentioned, “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. 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 on its truly unique heritage and unerring quest for excellence. We wish him and his family a long and happy retirement.”

Louis Camilleri was appointed because the Ferrari CEO in 2018, following the demise of the legendary Ferrari chief Sergio Marchionne. His tenure over the previous two years noticed the model develop bigger commercially with the launch of a number of new merchandise, notably the Ferrari Roma, F8 Tributo, 812 Superfast and the SF90 Stradale. The Ferrari SUV or FUV venture was additionally greenlit throughout his interval.

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He can also be a Formula 1 fan and carefully adopted the Scuderia Ferrari crew’s works. He is claimed to have been in shut contact with crew principal Mattia Binotto.

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