“Ferrari” Sustainable mobility has become the core of Ferrari – Chairman “5, May, 2021

Sustainable mobility has become central to Ferrari (RACE.MI) as a luxury carmaker, which is looking for a new chief executive, preparing to unveil its first all-electric model in 2025, Chairman John Elkann said Thursday.

Elkann, the head of Italy’s Agnelli family, which controls Ferrari through its investment company Exor (EXOR.MI), set an exact deadline last month for its first electric vehicle.

Elkann Exor is chief executive and chairman and said Thursday while addressing shareholders.

Ferrari maintains its commitment to Lamborghini, one of its main rivals, on the way to power supply, a fully electric model for the second half of the decade as the Volkswagen (VOWG_p.DE) supercar brand There are no plans to launch.

Elkann, who is also chairman of Stellantis (STLA.MI), said there would be a “Power Day” held in July by the world’s fourth largest carmaker, “Stellantis as a key chapter sustainable mobility He continued to build his future as the protagonist of a film.

The Ferrari chairman says the CEO is making “good progress” on the shortlist

Chairman John Elkan told shareholders at a general meeting on Thursday that Ferrari was making good progress on the shortlist of “extremely strong” candidates for the next chief executive of the Italian luxury carmaker. The Elkann list will include people who have “importantly all the right qualities, including technical capabilities, to lead our company”. After staying in the role for nearly two and a half years in December under former CEO Louis Camilleri, stepped out rolling out the company’s new hybrid models for personal reasons and for its first ever SUV, the so-called ‘Purosangue’ ( It was getting ready just like that.

“The new CEO and senior management team will share with you the exciting future of Ferrari during our (Capital Market Day) in 2022, also a year of significant new product launches and especially Purosangue going something really special. Is in which will be which.

He added that the company, known for its ‘Cavallino Rampante’ or ‘Prancing Horse’ logo, was set to unveil three new models this year and a first complete electric to be introduced in 2025. With Ferrari, it will continue with its electrification strategy.

Shares in the company were up 1.5% at 1104 GMT, compared with an almost flat gradient blue chip index. Analysts and investors say Ferrari is often seen as a luxury goods company rather than an automotive specialist, and during its reign Camillero expanded the brand to include clothing, accessories, entertainment, luxury products and services. The project started.

Elkann Company presented well with these plans, with the historic Cavallino restaurant in Maranello’s Ferrari hometown to reopen at the end of May and its first men’s and women’s luxury collection to be launched in June Is progressing.

Following Ferrari’s Camilleri will be a difficult process

Ferrari faced a fresh challenge on Friday to find a new leader of the same period as Luis Camilleri, just as the Italian luxury carmaker is rolling out new hybrid models and getting ready for its first ever SUV. .

Chief executive Luis Camilleri’s 65 retired immediately on Thursday for personal reasons after being in the role for nearly two and a half years.

Chairman John Elkann, the beacon of Italy’s Agnelli family, will lead the company on an interim basis while a permanent successor is found. It wasn’t long before the names of potential candidates emerged.

A spokesman for F1 dismissed rumors that Ferrari’s race team and former Lamborghini chief Stefano could take on the role of Camilleri’s former head of Domenicali, citing plans to appoint Jan. 1 as his new F1 CEO. Saying was looking forward to start work.

Domenicali and Colao In addition, the Italian media cited other names as possible candidates, including Apple (AAPL.O) CFO Luca Maestri and former Apple Chief Design Officer Jonathan Paul Ive.

Camilleri’s sudden departure comes at an unfortunate time for the carmaker, but the deployment of an alternative was unlikely.

“It will take a reasonable amount of time,” a source close to the matter told Reuters.

Like Camilleri, a new CEO who had years of experience in the tobacco and food industry before taking the helm at Ferrari didn’t necessarily have to be an automotive expert. Ferrari is often seen by analysts and investors as a luxury goods maker rather than an automotive expert, as well as leading Ferrari’s ongoing efforts to expand its vehicle lineup hybrid technology. On last year, Camilleri launched a project to expand the apparel brand, , Goods, entertainment offerings, luxury products and services.

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