Louis Carey Camilleri, Ferrari, Hockenheimring, 2019

Ferrari CEO Camilleri retires “with immediate effect”

2020 F1 season

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Ferrari has announced its CEO Louis Carey Camilleri has stepped down from the company and its board of directors “with immediate effect”.

His retirement is due to “personal reasons”, Ferrari confirmed. Its executive chairman John Elkann will act as interim CEO and begin a process to choose a replacement for the 65-year-old.

Camilleri took over in charge of Ferrari in July 2018, when his predecessor Sergio Marchionne stepped down suddenly due to ill health, shortly before his death.

Following his arrival Camilleri oversaw the replacement of Formula 1 team principal Maurizio Arrivabene with Mattia Binotto at the beginning of 2019. However the team’s fortunes declined sharply this season. It lies sixth in the constructors championship, on course for its worst finishing position in 40 years.

Elkann is the grandson of the late Gianni Agnelli whose family controls Exor, which holds a controlling stake in Ferrari. He said in a statement: “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 said it had been a “great privilege” to serve as CEO of Ferrari.

“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,” he said. “I’m proud of the company’s numerous achievements since 2018 and know that Ferrari’s best years are still to come.”

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Keith Collantine
Lifelong motor sport fan Keith set up RaceFans in 2005 - when it was originally called F1 Fanatic. Having previously worked as a motoring...

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31 comments on “Ferrari CEO Camilleri retires “with immediate effect””

  1. Hm
    (That’s the extend oh my thought on this)

    Didnt realise Binotto came in only at the beginning of 2019. Ferraris were rocket ships on the straights a bit before that, werent they?
    So, on one hand, can’t blame him for being the team principal that approved the illegal – or so assumed – engines that are now taken away, and on the other hand – he was the engine guy before that, so maybe it was this very brilliant move that made Ferrari think that he should take Arrivabene’s place.

    Speculation speculation. :)

    1. Was he not working in the power unit department at Ferrari before becoming team principal? Pretty sure he knew all about the dodgy power units

      1. You’re correct, Binotto was head of the PU department starting sometime around 2014.

        @minilemm Binotto wanted the position himself. There was a power struggle between him and Arrivabene in 2018 that almost led to Binotto accepting an offer from Mercedes (he’s admitted himself that he seriously considered it). Facing that prospect, Ferrari didn’t want to let the chief who made them such amazing engines, and thus gave him what he wanted. Ferrari has had a very serious leadership crisis (on multiple levels) since Marchionne passed away imo, and Camilleri stepping down just proves it

        1. Ha, wouldn’t think so. He doesn’t seem a power-hungry type of individual at first glance. But that, of course, means nothing.
          I wonder how many people higher up than Binotto at the time knew that the engine was potentially illegal.

          1. Very aptly put: you don’t think that he’s a power hungry type of individual, but then again, can you say that with any certainty without knowing the man personally? You don’t work on the top 5% of your field without having any ambition though.

            He’s admitted the Mercedes story himself and the power struggle was never publicly confirmed (what company would, really), so there’s definitely something there with the power struggle story. Maybe not the exact situation, but where there’s smoke, there’s fire.

  2. Hm, indeed.

    It did cross my mind that just as this is “for personal reasons” that lovely cop out to not have to describe why they parties agreed with their employee not to be fired, the not feeling well, but it is not Covid-19 that meant Binotto had to go back to italy (again, after spending Turkey and the first Bahrain races there) has to do with this.

    Off course it might throw a spanner in the works for that cooperation with Haas. Or maybe it won’t. Certainly shows how 2020 is a season of change.

    1. I saw that he suffered a pretty tough case of Covid-19 and was hospitalized for that and is still at home recovering, so that makes for very good personal reasons to want to step away from the position.

      1. It’s recommendable to step down from that position even with a clean bill of health. It’s odd though that Binotto got sick as well.

    2. @bascb
      There was a strong rumour launched by the Corriere Dello Sport back in January that suggested that Ferrari were indeed looking to replace Camilieri with Stefano Domenicali who was contacted by Elkann after his excellent stint as a CEO of Lamborghini. Apparently Domenicali had other ideas in mind and good for him and the sport BTW.

      I agree with you that this whole thing of personal reasons and Binotto not feeling well after Sakhir GP and head back straightaway to Maranello doesn’t fit well.


      1. Thanks for filling in some background there @tifoso1989. Yeah, there certainly is something going on at Ferrari.

    3. Camilleri is also stepping down from Phillip Morris, so it can be a real “personal reason” this time

  3. Nothing like a serving of Intrigue with Italian Sauce to spice things up for the end of the season.
    Should keep the gossip hounds busy for at least a couple of weeks.
    Gonna be fun.

  4. A totally anonymous presence, his absence will not be noticed.

    The real force behind Ferrari’s failures of late are the Elkann family who seem to hold all the cards.

    1. Always funny to read the internet comments of anonymous people who think they know it all.
      It must be the satisfaction of seeing yours beliefs written down.

  5. Camilleri, who’d just been through a serious bout with Covid, simultaneously retired as chairman of Phillip Morris so it’s unlikely due to any internal Ferrari shenanigans. A couple of things come to mind: he’s not been in the either sector (tobacco or cars) very long and both sectors have been and are still facing massive disruption.

  6. Mattia Binotto for Ferrari CEO!

    1. God help us.

      1. But why they look so much like each other!

  7. “personal reasons” – is that a euphemism for the old horses-head-in-the-bed routine?

    1. No, it is a euphemism for serious illness, so probably best not to make jokes about it.

      1. @aiii not really it’s often used by politicians and business leaders who have been told they’re services are no longer required, it’s a face saving thing.

  8. Renan Martinuzzo
    11th December 2020, 1:38

    Toto wolf’s new job.

    1. Toto, I have a feeling we’re not in Kansas anymore

      1. Say hello to our top mechanics Mario and Luigi

    2. Michael (@freelittlebirds)
      11th December 2020, 3:31

      That would be hilarious if Toto goes there and brings Hamilton along with him.

      1. if only Lewis were daring enough..

  9. A lot of corporate bs there

  10. Ferrari already found the best driver in the history of the universe driving for them and he is still their reigning World Champion. It was clearly already back in 2010 that it’s gonna be nothing but downhill for the franchise. They might as well quit now.

  11. Could this be an Exor move?

    With FCA and PSA looking to merge, I’m sure there will be a few CEO type’s looking for work. Perhaps this job should go to an auto industrialist?

  12. Just read that Binotto feels unwell and will not be at the Abu Dhabi GP Umm OK :)

  13. The Borgia court is in uproar about something but who can see into those murky depths?

    Team Principal Binotto flying home as he is ‘unwell’ and so again missing a race and the Ferrari CEO resigns which may well be for health reasons, but these two events seem unlikely to be coincidental. Is Binotto rushing to save his job or to grab the top one? Is Elkann using a real illness as an opportunity to do a little pruning at Maranello?

    The ‘quiet’ season has started off with a bang even before the last race with Ferrari and Haas causing waves.

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