Ferrari dodges questions over CEO succession as profit slows
Ferrari gave no indication on Tuesday of who it was lining up to replace Louis Camilleri as chief executive as analysts said the luxury carmaker appeared to be touching the brakes on its profit outlook.
Italy’s ‘Cavallino Rampante’, or ‘Prancing Horse’, forecast that its adjusted core earnings would be between 1.45 billion euros ($1.7 billion) and 1.5 billion euros this year, after falling 10% to 1.14 billion euros in 2020.
John Elkann, Ferrari’s Chairman and acting CEO told analysts it had set up a search committee to identify the right successor to Camilleri, who stepped down in December, but provided no further details.