After two years with the company and recent hospitalization due to COVID-19, Ferrari CEO Louis Camilleri surprisingly resigned from the company Friday, The Wall Street Journal reports.
At the moment, it’s unclear whether the bout with coronavirus or something else prompted Camilleri’s abrupt exit, as the Italian automaker said he left for personal reasons. The 65-year-old executive had also been the chairman of tobacco giant Phillip Morris International, where he also resigned. While he is reportedly still overcoming the virus’ effects, a source familiar with the situation said Camilleri is finishing his recovery at home.
He took over the helm at Ferrari after the untimely death of former CEO Sergio Marchionne in July 2018. While Camilleri had no prior auto industry experience, he did have an effect on the supercar manufacturer — expanding its reach beyond cars to luxury goods like apparel and other accessories. John Elkann, Ferrari chairman will become acting CEO until the company finds a replacement. “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,” Camilleri said in a statement.