Ferrari: Surprise Departure of CEO Louis Camilleri

On the eve of the final Formula 1 Grand Prix of the season in Abu Dhabi, Ferrari announced the departure of its CEO, Louis Camilleri, who had been in the position since July 2018, with immediate effect. He explained his departure due to personal reasons. In the position since 2018, he had succeeded the late Sergio Marchionne.

He states, regarding his decision: “Ferrari was an important part of my life and it was a great honor to be its president. I have a great deal of admiration for the men and women of Maranello, and for the passion with which they do their work. I am proud of the many successes achieved by the company since 2018, and remain confident that Ferrari’s best years are still ahead.”

The interim leadership of the group will be ensured by John Elkann, current chairman of FIAT Chrysler, owned by Ferrari. He paid tribute to his predecessor:

I’d like to warmly thank Louis for his dedication to his role as CEO since 2018. His passion for Ferrari knows no bounds, and under his leadership, the company has established its position as one of the best firms in the world. I wish him a long and happy retirement. He will hold his position until the next board of directors’ vote.

The prancing horse brand indeed experienced good times with Camilleri at its helm, with a notable boost in the company’s figures and commercial performance. The leader had notably implemented an action plan leading the manufacturer to produce a majority of hybrid engine cars, in order to reduce the carbon emissions of its vehicles.

Naturally close to his Formula 1 team, Camilleri was very close to the current team boss, Mattia Binotto. Given the uneven 2020 season experienced by the red single-seaters, this decision might not be insignificant and will certainly fuel discussions about Binotto’s ability to steer the team back to its former glory.