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Ferrari takes time on new CEO as 2020 profit falls 10%

February 2, 2021

MILAN — Ferrari said it was targeting a modest increase in core profit this year and gave no indication of who would take over as its new CEO from Louis Camilleri, who stepped down from the role in December.

Ferrari did not provide any details about the search for a new boss. The automaker is now led on an interim basis by Chairman John Elkann, the scion of the Agnelli family which controls Ferrari through its holding company EXOR.

The Ferrari board “will manage the ongoing process of identifying Louis Camilleri’s successor,” the company said on Tuesday.

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