Resignation of the CEO of Ferrari!

Italian sports car maker Ferrari announced the resignation of its CEO and board member, Luis Camilleri, who said his decision was due to “personal reasons,” according to “CNN Business”.

Camilleri was transferred to an Italian hospital due to his infection with the Coronavirus, but later recovered and returned home, according to people close to him.

Ferrari said in a statement that the company’s management official, John Elkan, will take over as interim CEO, until the board of directors elects a new president.

John Elkan praised Camilleri for his career, saying: “His passion for Ferrari was limitless and, under his leadership, the company established its position as one of the largest in the world, capitalizing on its unique heritage and drive for excellence.”

Camilleri was named CEO of Ferrari in 2018, replacing Sergio Marchionne, who was also CEO of Fiat Chrysler Group, and Camilleri has worked at Ferrari since 2015.

Camilleri was previously the CEO of Kraft Foods and Ultria, and also served as Chairman of the Philip Morris Tobacco Company, resigning from this position last Thursday.

Under Camilleri’s leadership, the company’s sales increased from 8,000 cars in 2016 to more than 10,000 cars last year, according to the company’s annual reports.