logo
New Delhi
Home
News & Reviews
Videos
New Cars
New Bikes
Used Cars
Sell Car
Articles
Car services

Registered Office

ADDRESS
Mahindra First Choice Wheels Limited, 602, 6th Floor, Tower - B, Embassy 247, LBS Road, Vikhroli (West), Mumbai - 400083
CONTACT
+91 9606045096
EMAIL
contact@carandbike.com
© Mahindra First Choice Wheels Limited 2025. All rights reserved.
  • Latest News
  • Latest Reviews
  • Car News
  • Bike News
  • Car Reviews
  • Motorsport
  • Bike Reviews
  • Electric

Ferrari's Camilleri Will Be A Hard Act To Follow

Chief Executive Officer Louis Camilleri, 65, retired with immediate effect citing personal reasons late on Thursday, after being in the role for nearly two and a half years.
Reuters
Reuters
1 min read
2020-12-13 22:57:24
Follow us on
Ferrari's Camilleri Will Be A Hard Act To Follow

Ferrari was facing a fresh challenge of finding a new leader of the same standing as Louis Camilleri on Friday, just as the Italian luxury carmaker is rolling out new hybrid models and getting ready for its first ever SUV. Chief Executive Officer Louis Camilleri, 65, retired with immediate effect citing personal reasons late on Thursday, after being in the role for nearly two and a half years. Chairman John Elkann, the scion of Italy's Agnelli family, will lead the company on an interim basis while a permanent successor is found. It was not long before names of possible candidates emerged.

A spokesman for F1 dismissed rumours that the former head of Ferrari's racing team and ex-Lamborghini chief Stefano Domenicali could take Camilleri's role, saying he was looking forward to starting his new job as F1 CEO on Jan. 1 as planned.

Besides Domenicali, Italian media cited former Vodafone CEO Vittorio Colao, Apple CFO Luca Maestri and Apple's former Chief Design Officer Jonathan Paul Ive as possible candidates.

Although Camilleri's sudden departure comes at an unfortunate time for the carmaker, the appointment of a replacement was unlikely to be rushed.

"It will take the appropriate time," a source close to the matter told Reuters.

Like Camilleri, who had years of experience in the tobacco and food industries before taking the helm at Ferrari, a new CEO need not necessarily be an automotive expert.

Ferrari is often seen by analysts and investors as a luxury goods maker rather than an automotive specialist and as well as leading Ferrari's ongoing effort to expand its vehicle line-up to hybrid technology, last year Camilleri launched a plan to widen the brand to apparel, accessories, entertainment offers, luxury products and services.

Intesa Sanpaolo analyst Monica Bosio said finding a successor "capable of managing Ferrari's peculiar business model, facing at the same time Ferrari's current issues in F1," was no easy task given Camilleri's retirement also occurs "in a technological transition phase".

In the F1 championship, Ferrari haven't won a race all year and with only one left to go, the team's current 6th place could leave the Prancing Horse nursing its worst result for 40 years.

Camilleri was appointed to lead Ferrari in July 2018, after the sudden death of former CEO Sergio Marchionne. During his tenure Ferrari has been one of the best performing auto stocks, as demand for its high performance cars remained strong, even through the coronavirus pandemic.

Under his leadership, Ferrari shares rose around 50% and have hit record levels, with those listed on Milan's bourse touching an all-time high of 182.95 euros ($221.70) last month.

The shares were down 0.1% by 1445 GMT on Friday compared with a 0.8% fall in Milan's blue-chip index.

Citi analysts said whoever replaces Camilleri would inherit a "significant legacy".

"At the same time, Ferrari faces perhaps the biggest upheaval in its history with a number of questions around the deliverability of 2022 profit targets and more pertinently navigating the launch of the PuroSangue SUV and negotiating the transition to zero carbon emissions," Citi added.

Ferrari has pledged that 60% of its vehicle sales will be hybrid by 2022, but has ruled out a fully-electric model.

As customers love Ferrari for its roar and high performance, analysts say there is a risk it will struggle in the long term, when silent fully electric engines rule the market and traditional powertrains are progressively phased out.

In its plan to 2022 Ferrari aimed at nearly doubling its adjusted core earnings to between 1.8-2.0 billion euros from 1 billion euros in 2017. For this year Ferrari has targeted adjusted core earnings at around 1.125 billion euros ($1.36 billion).

According to a company source, Camilleri - who also resigned as executive chairman of Philip Morris International (PMI) - had been hospitalised for COVID-19 in recent weeks. He is now recovering at home but his illness was not said to be the cause of his decision to retire.

# Ferrari# Louis Camilleri# Louis Camilleri Ferrari# Cars
  • Overview
  • Highlight

Related News

Latest KTM Super Adventure S Evo Revealed First KTM To Get An AMT
1 min read
Latest KTM Super Adventure S Evo Revealed First KTM To Get An AMT
Driving License Driving License Driving License Driving License
0 mins read
Driving License Driving License Driving License Driving License
KTM Super Adventure S Evo Revealed First KTM To Get An AMT
2 mins read
KTM Super Adventure S Evo Revealed First KTM To Get An AMT
Toyota Crown Crossover RS Landscape Special Edition Revealed
5 mins read
Toyota Crown Crossover RS Landscape Special Edition Revealed
2021 MotoGP World Champion Fabio Quartararo To Stay With Yamaha Till 2026
1 min read
2021 MotoGP World Champion Fabio Quartararo To Stay With Yamaha Till 2026
Toyota Crown Crossover RS Landscape Special Edition Revealed
2 mins read
Toyota Crown Crossover RS Landscape Special Edition Revealed
Yamaha MT-15, Fascino & Ray ZR Get New Colours And Graphics For 2024
1 min read
Yamaha MT-15, Fascino & Ray ZR Get New Colours And Graphics For 2024
MG Hector Blackstorm Launch On April 10
1 min read
MG Hector Blackstorm Launch On April 10
BMW Group India Reports Over 51% Growth In Q1 2024 Car Sales, At 3,680 Units
1 min read
BMW Group India Reports Over 51% Growth In Q1 2024 Car Sales, At 3,680 Units

Research More on Ferrari

placeholder
Variants
Images
Colours
*Ex-Showroom Price

Popular Ferrari Models

  • Tata Harrier EV
    Tata
    Harrier EV
    Ex-showroom Price
    ₹ 21.49 - 30.23 Lakh
  • Volkswagen Golf GTI
    Volkswagen
    Golf GTI
    Ex-showroom Price
    ₹ 50.13 Lakh
  • Kia Carens Clavis
    Kia
    Carens Clavis
    Ex-showroom Price
    ₹ 11.1 - 20.76 Lakh
  • Lamborghini Temerario
    Lamborghini
    Temerario
    Ex-showroom Price
    ₹ 6 Crore
  • Volkswagen Tiguan R-Line
    Volkswagen
    Tiguan R-Line
    Ex-showroom Price
    ₹ 45.73 Lakh
  • Mercedes-Maybach SL 680
    Mercedes-Maybach
    SL 680
    Ex-showroom Price
    ₹ 3.92 Crore
  • BYD Sealion 7
    BYD
    Sealion 7
    Ex-showroom Price
    ₹ 48.9 - 54.9 Lakh
  • Kia Syros
    Kia
    Syros
    Ex-showroom Price
    ₹ 8.69 - 16.03 Lakh
  • Hyundai Creta EV
    Hyundai
    Creta EV
    Ex-showroom Price
    ₹ 18.02 - 24.38 Lakh
  • Lotus Emeya
    Lotus
    Emeya
    Ex-showroom Price
    ₹ 2.34 Crore

Upcoming Cars

  • placeholder
    Explore Other Topics

Trending News

  • Ferrari F167 Spotted Testing; The 812 Successor's Design Direction Become Clearer
    1 min read
    Ferrari F167 Spotted Testing; The 812 Successor's Design Direction Become Clearer
  • Former F1 Driver’s Stolen Ferrari Recovered After 28 Years
    2 mins read
    Former F1 Driver’s Stolen Ferrari Recovered After 28 Years
  • First Ferrari Purosangue Performance SUV Delivered In India
    3 mins read
    First Ferrari Purosangue Performance SUV Delivered In India
  • Lego Builds A 1:1 Scale Model Of The Ferrari 296 GTS
    2 mins read
    Lego Builds A 1:1 Scale Model Of The Ferrari 296 GTS
  • Scuderia Ferrari Unveils The SF-24 For 2024 Formula 1 Season
    2 mins read
    Scuderia Ferrari Unveils The SF-24 For 2024 Formula 1 Season

Latest News

  • NewsNews
  • Expert ReviewExpert Review
View All
  • Latest KTM Super Adventure S Evo Revealed First KTM To Get An AMT
    Jaiveer Mehra | Nov 26, 2024
    Latest KTM Super Adventure S Evo Revealed First KTM To Get An AMT
    Compared to the 1290 Super Adventure, the new 1390 packs in a larger engine, more power and more tech on board
    1 min
  • Driving License Driving License Driving License Driving License
    car&bike Team | Nov 22, 2024
    Driving License Driving License Driving License Driving License
    0 mins
  • KTM Super Adventure S Evo Revealed First KTM To Get An AMT
    Jaiveer Mehra | Oct 25, 2024
    KTM Super Adventure S Evo Revealed First KTM To Get An AMT
    Compared to the 1290 Super Adventure, the new 1390 packs in a larger engine, more power and more tech on board
    2 mins
  • Toyota Crown Crossover RS Landscape Special Edition Revealed
    car&bike Team | May 20, 2024
    Toyota Crown Crossover RS Landscape Special Edition Revealed
    Japan-specific special edition gets off-road-focused tweaks including all-terrain tyres and a raised ride height.
    5 mins
  • 2021 MotoGP World Champion Fabio Quartararo To Stay With Yamaha Till 2026
    Yashraj Singh | May 16, 2024
    2021 MotoGP World Champion Fabio Quartararo To Stay With Yamaha Till 2026
    Despite a tumultuous journey in recent seasons, Quartararo reaffirms his commitment to Yamaha, citing belief in their new approach and potential for success
    1 min
  • Toyota Crown Crossover RS Landscape Special Edition Revealed
    car&bike Team | Apr 9, 2024
    Toyota Crown Crossover RS Landscape Special Edition Revealed
    Japan-specific special edition gets off-road-focused tweaks including all-terrain tyres and a raised ride height.
    2 mins
  • Yamaha YZF R3 Real-World Review: In Pictures
    Kingshuk Dutta | Mar 29, 2024
    Yamaha YZF R3 Real-World Review: In Pictures
    The Yamaha YZF R3 is fast, looks good and is a hoot to ride as well. But the price is where all the good work comes undone. Only if there was a way for Yamaha to price it right!
    2 mins
  • Yamaha YZF R3 Real-World Review; Good Motorcycle But Too Expensive For Its Own Good
    Kingshuk Dutta | Mar 28, 2024
    Yamaha YZF R3 Real-World Review; Good Motorcycle But Too Expensive For Its Own Good
    The Yamaha YZF R3 is fast, looks good and is a hoot to ride as well. But the price is where all the good work comes undone. Only if there was a way for Yamaha to price it right!
    1 min
  • Volvo XC40 Recharge Plus Single Motor Driven: A Better Deal Than The Twin-Motor Ultimate?
    Dhruv Attri | Mar 28, 2024
    Volvo XC40 Recharge Plus Single Motor Driven: A Better Deal Than The Twin-Motor Ultimate?
    The XC40 Recharge’s single motor variant is nearly Rs 3 lakh more affordable than the AWD version. But what’s the catch?
    4 mins
  • Royal Enfield Himalayan Long Term Test: Introduction
    Kingshuk Dutta | Mar 27, 2024
    Royal Enfield Himalayan Long Term Test: Introduction
    The new Royal Enfield Himalayan now joins car&bike’s long term fleet. Over the next few months, we will tell you how the motorcycle holds up to the rigours of daily riding, highway jaunts, off-road riding and much more.
    2 mins
  • Jawa 350 vs Royal Enfield Bullet 350 Comparison Review: In Pictures
    Kingshuk Dutta | Mar 27, 2024
    Jawa 350 vs Royal Enfield Bullet 350 Comparison Review: In Pictures
    The legacy of the Royal Enfield Bullet 350 has a new challenger in the Jawa 350. But which of these modern classic 350s with iconic nameplates is a better choice for you? We try and find the answer.
    2 mins
  • Home
  • News
  • Electric Mobility
  • Ferrari's Camilleri Will Be A Hard Act To Follow