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Sergio is CEO

Discussion in 'Ferrari Discussion (not model specific)' started by jjmalez, May 2, 2016.

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  1. jjmalez

    jjmalez F1 Veteran
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    #1 jjmalez, May 2, 2016
    Last edited by a moderator: May 2, 2016
    Ferrari (NYSE:RACE) has a new CEO -- and his name is a familiar one.

    The Italian supercar maker announced on Monday that Ferrari Chairman Sergio Marchionne will succeed CEO Amedeo Felisa, effective immediately. Felisa is retiring after 26 years with the company.

    What it means for Ferrari: It means that Marchionne is now in position to execute his aggressive vision for the Ferrari brand, one that he hopes will supply at least some of the growth that Ferrari's new investors seek. How will Marchionne give shareholders some growth while preserving Ferrari's exclusivity? First, he plans to gradually increase Ferrari's production from the 7,664 cars it shipped in 2015 to about 9,000 in 2019.


    Can Ferrari's New CEO Satisfy Investors? -- The Motley Fool


    Ferrari posted its best first-quarter earnings ever, a 19-percent increase in net profit to 78 million euros and the stock drops 2.88% Thoughts? Concerns?

    Joe
     
  2. rob lay

    rob lay Administrator
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    #2 rob lay, May 2, 2016
    isn't the growth rate "7,664 cars it shipped in 2015 to about 9,000 in 2019" inline with the growth of past?
     
  3. jjmalez

    jjmalez F1 Veteran
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    #3 jjmalez, May 2, 2016
    Yes, but why did the stock price drop when Ferrari had it's best earnings to date, the same day they announced Sergio Marchionne CEO of Ferrari?

    Remember why Luca di Montezemolo left?

    Joe
     
  4. Brian L

    Brian L Formula 3

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    #4 Brian L, May 2, 2016
  5. 635CSI

    635CSI F1 Rookie

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    #5 635CSI, May 3, 2016
  6. crinoid

    crinoid F1 World Champ
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    #6 crinoid, May 3, 2016
    The last of the men who put Ferrari at the top is now gone.
     
  7. Marcel Massini

    Marcel Massini Two Time F1 World Champ
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    #7 Marcel Massini, May 4, 2016
    Important change in the organization structure within Ferrari S.p.A.

    Please see below the official media announcement that has been made available to key media last night 3 May 2016 after the closing of the Q1 2016 Board Meeting.


    Ferrari announces CEO succession

    Maranello (Italy), 2 May 2016 – Ferrari N.V. (“Ferrari” or “Company”) (NYSE/MTA: RACE) announces the retirement of its Chief Executive Officer, Mr. Amedeo Felisa, after 26 years of dedicated service. Mr. Sergio Marchionne will assume those responsibilities while retaining his current role as Chairman of the Company. Mr. Felisa will continue to serve on the Board of Directors of Ferrari with a specific mandate as technical advisor to the Company.

    Sergio Marchionne had this to say: “I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years. He is beyond any doubt one of the best automotive engineers in the world. During the last 26 years, he has worked tirelessly to fuel and guide Ferrari’s technical development, producing an array of cars which have set the standard for both performance and styling.”

    The Board of Directors wants to officially express its gratitude to Amedeo for his contributions and is delighted to be able to count on his services as technical advisor to the leadership team going forward.

    These executive changes are effective immediately.
     

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