Ferrari SpA announced on Thursday that Chief Executive Officer Louis Camilleri has retired from the company with immediate effect for what the Italian company describe as personal reasons and has also stepped down from the Prancing Horse’s board of directors.

The news comes on the eve of the final Formula One race of the 2020 season in Abu Dhabi which is also four time world champion Sebastian Vettel’s final race with the team before he moves to Aston Martin F1 Team from 2021. Speaking about his decision to retire, Camilleri who contracted COVID 19 earlier this year commented saying:

Ferrari has been a part of my life and serving as its Chief Executive has been a great privilege. 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.”

The BBC are reporting that Mr Camilleri is recovering from COVID 19 at home in New York and this is the reason why he has left his role. Ferrari Executive Chairman John Elkann who will take over as Chief Executive Officer on an interim basis commented saying:

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.

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