Ferrari CEO Announced his retirement effective immediately

If that's the case, then this is good news, as Binotto should be kicked out from Gestione Sportiva as soon as possible.

As for the company - Montezemolo was the president and not just CEO and he should be back as president, as he was the greatest president Ferrari ever had. But I think it's too late for him now to come back unfortunately.

Maybe Enrico Galliera really is the best choice now.

 

I would not be so sure about the SUV continuing to the the golden goose for much longer, I reckon they will be legislated out of existence in the EU block.

 

To be clear. Enzo Ferrari was the greatest President Ferrari ever had. Period.

 

Were I Elkann I would make Piero President / CEO of Ferrari - and install a group behind him to actually run the company day to day. I'd use Piero to keep be the public face of the company. I'd look at Winkelman from Bugatti as a good Ops guy... or someone out of Porsche-VW who gets the business side. Ferrari needs a solid Italian Face to the company -but real world experience behind the scenes.

 

This is weird. What’s the word on the streets of Maranello about this ...?

 

Time for Galliera and Coletta to step up ....

 

Normally when a bigwig leaves like this there is fire behind the smoke.

 

Do you seriously believe Ferrari needs any racing program to sell cars in the US by now? Doubtful. Indycar is a waste of money, especially if they have to use a spec chassis.

 

I would guess health issues. He left his position at Philip Morris too.

 

Yes. Competition in the US market is extreme. Ferrari uses racing like others use advertising.

If you become irrelevant, you're destined to be over run.

Cars like these are a fashion business more than the car business. Get out of style and people go to the latest and greatest.

Just a 10% decrease in Ferrari USA sales would really hurt the company, not to mention destroy resale values -- which is one of the reasons people buy these expensive toys.

 

He also said 'we don't need the money'.
When the 599 was introduced LdM said it had plenty of performance and a more powerful version was not planned. Later in 2011 the GTO arrived.
He stated they would not do a 4 wheel drive Ferrari but then introduced the FF due to much demand from his 'friends'.

 

Luca said a lot of things that were not true. He’s a great marketing person though.

 

TheMayor is on crack cocaine...Ferrari hasn't won since 2008, and the road cars are still very much "in fashion" today, if not even more. There's zero correlation between the two.

 

Obviously I was not including the founder of the company, but just the presidents. As for Piero Ferrari - he is not and he has never been a brilliant marketing specialist or a great businessman and I don't believe he is suitable for this position and I also don't see what is the point of putting someone on a position and then another guy behind him to "really" do the job. Don't see why they need such a thing. As for Winkelman - now he is a great leader, but I don't see him leave the VW group even because of Ferrari.

As I see it - Galliera will more likely be the new CEO, but anyway - in Ferrari the president has always been the really important person.

 

WINNING and COMPETING are two different things. If Ferrari stopped F1 racing, would their sales go UP or DOWN?

DOWN

Now, if Ferrari started Indy racing in the USA, would you expect their sales to go up or remain unchanged?

If you say "unchanged", then Ferrari spending $200 million a year on F1 is simply waste because you are saying racing is "meaningless" to their yearly sales.

If someone could show that spending less money got a bigger pay off, why wouldn't they do it?

I'm not saying they will quit F1. But doing a couple of Indy events a year isn't going to be better for the US market?

 

The question is it Ferrari that is spending that $200 million or is it sponsors? Yes, there is a difference.

 

Ferrari has a marketing budget that it uses instead of TV advertising or other forms of advertising. Its a cost of doing business.

Ferrari makes a TON of money from licensing (Luca brought that in to) and a lot of that comes from its heritage in racing.

 

Indycar has never figured into Ferrari's plans because it's too niche (the car in the Ferrari museum was an expensive bluff, no more...). It would be better for them to look at sports prototypes, especially now that IMSA and Le Mans share a top category, but again, severely restricted rules, only 4 chassis manufacturers (although in this case I bet they could squeeze themselves in). The last public comment from Ferrari on indycar is that without them being able to build their own engine AND chassis it was a non-starter. Indycar does nothing for car sales, hasn't for a while. For manufacturers it's a token racing program. Doesn't mean they don't take it seriously, but no manufacturers in Indy need racing to sell cars, and Ferrari competing with them in a spec chassis series would only be a joke. It would devalue the brand, almost.

 

Leo Turrini, close to Ferrari, said yesterday Camilleri is seriously ill.
Not Covid related only.

 

I agree but I rather see Ferrari will invest more in the future LMDh with which you can compete for overall wins in LeMans, Daytona, Sebring etc. as this class got more attention recently with Peugeot, Audi and most likely Porsche coming back. Not saying Ferrari will leave F1 but I see Ferrari rather in a worldwide sportscar program than Indy.

 

I suspect some dire condition was discovered when he was hospitalized with cv. I wish him well.

 

I was thinking the same thing. Wish him all the best.

 

https://www.channelnewsasia.com/news/business/fiat-ceo-manley-in-pole-position-for-top-job-at-ferrari---paper-13757542


https://www.reuters.com/article/us-ferrari-ceo-colao/reports-former-vodafone-ceo-colao-among-candidates-for-ferrari-top-job-groundless-source-idUSKBN28L2LP

 

I disagree on Piero, he's been able to build several companies, he's just not at all "loud" about it. I met him once back in 89 in Montreal, just in passing. he was so demmur and quiet if you did not know who he was - you would walk right past him. I was walking the pit lane at about 8 AM, in front of the Mclaren Pits, and right there was Piero and someone I did not know. "Bonjourno Sig. Ferrari" He knodded, and shook my hand. that was it. Bouno Furtuna per il GP.... that was it .

He's turned around Piaggio, and several engineering companies. On top of being a Billionaire ... he could do it, but it would be a traditional CEO role - with him in the background.

 

I would say "unchanged" for at least the next 50 years. Why? Because the pedigree and mystique of the brand are too well established. Look at Lamborghini, when was the last time they competed in either Indy or F1? The cars are still selling like hotcakes...

From what I remember, the F1 racing arm of Ferrari, despite their lackluster results for the past 2 decades, is actually helping Ferrari's bottomline ie profitable. So why say no to free money while still having a unique global marketing platform...

But this year and the future might be a very diff story...they're out of the top 3 in WCC standings this year and w equalization of prize money distribution and budget caps coming down I wouldn't be surprised if Ferrari pulls out of F1.

Will new leadership continue to make Ferrari winning the championship a priority like the late Sergio wanted? Seems doubtful.