Ferrari CEO Louis Camilleri has announced his retirement with immediate effect prior to this weekend’s season-ending Formula 1 Abu Dhabi Grand Prix.
Camilleri took on the role midway though 2018 as successor to Sergio Marchionne following his death, but has decided to step down for personal reasons.
It is understood the American contracted COVID-19 that turned out to be serious but not life-threatening, from which he is currently recovering.
Camilleri was also part of the Phillip Morris board, who has a long association with Ferrari in F1, and will also stand down from his role at the company.
The Ferrari team had Camilleri’s full support during his tenure, attending several races, and formed a close relationship with current boss Mattia Binotto.
Ferrari chairman John Elkann is set to take over Camilleri’s role on an interim basis until the Italian outfit finds a replacement.
“Ferrari has been a part of my life and serving as its chief executive has been a great privilege,” Camilleri said in a statement.
“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.”
Elkann paid tribute to Camilleri’s contribution at Ferrari, adding: “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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