In July 2018, Louis Camilleri became the head of Ferrari after former chairman and CEO, Sergio Marchionne, passed away due to complications from surgery. Just two years after his appointment as Ferrari's head, Camilleri has announced that he has resigned from his post as CEO and as a member of Ferrari's Board of Directors effective immediately.
The exact reason for Camilleri's departure was not mentioned in Ferrari's announcement. According to a report by Reuters, Camilleri had to resign from his post after contracting COVID-19. He has since left the hospital and is currently recovering at home.
Following Camilleri's sudden resignation, Ferrari announced that current Executive Chairman John Elkann will act as interim CEO while the company selects a successor. The Italian supercar marque has not hinted at who could be the Camilleri's replacement.
“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,” said Camilleri in a statement.
Following in the footsteps of the late Sergio Marchionne was not easy. But under Camilleri's leadership, Ferrari was able to deliver strong financial results despite the recent challenges such as the COVID-19 pandemic. Unfortunately, the same success can't be said about their Formula 1 team. The Ferrari Formula 1 team has shown disappointing results this season and was unable to return to its winning ways.
“I would like to express our most sincere thanks to Louis for his unstinting dedication as our Chief Executive Officer since 2018 and as a 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, capitalizing on its truly unique heritage and the unerring quest for excellence. We wish him and his family a long and happy retirement,” said Elkann.