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]
I don’t know anything about the guy but his quick departure has a whiff of looming scandal to it. Accounting, or #metoo? Place your bets.
Does #metoo even matter in Italy?
Wasn’t aware it mattered anywhere.
Market is relatively unfazed by the news. Stock was down slightly earlier today, up slightly as I type this.
Pretty sure they’ll be able to find someone who can do a better job in short order.
May be he does not support Bureau of Land Management.
How does Ferrari get away with so blatantly copying the Mustang logo?
Heh. You can’t be that dense.
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
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.
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.