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Camilleri quits as Ferrari CEO with immediate effect

Ferrari’s Chief Executive Officer Louis Camilleri has retired from his position for personal reasons with immediate effect, the company announced on Thursday.

Camilleri, 65, took on the role in July 2018 following the resignation of the unwell Sergio Marchionne, who died a few days later.

His position as CEO will be filled on an interim basis by Executive Chairman John Elkann while the company identifies a long-term successor.

“Ferrari has been a part of my life and serving as its Chief Executive has been a great privilege,” said Camilleri in a 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.”

Elkann commented: “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.

“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 on its truly unique heritage and unerring quest for excellence.

“We wish him and his family a long and happy retirement.”

Camilleri has also relinquished his role as Chairman of Philip Morris International, with whom he has been affiliated since 1978.

Since Camilleri’s appointment as Ferrari’s CEO its Formula 1 squad has undergone numerous changes.

The most prominent was the decision to replace Maurizio Arrivabene with Mattia Binotto as Team Principal as part of a culture change within both the Formula 1 outfit and the wider organisation.

It also promoted youngster Charles Leclerc in place of Kimi Raikkonen, a change which Marchionne is understood to have pushed for prior to his death, and for 2021 has recruited Carlos Sainz to replace Sebastian Vettel, who was not offered a new contract.

Ferrari is on course to finish sixth in this year’s standings, its lowest finish in 40 years, having classified second in 2019.

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