Ferrari CEO Under Pressure To Fulfill Marchionne’s Promises

Ferrari chief executive Louis Camilleri is under pressure to achieve the lofty targets set by Sergio Marchionne before his death, Autonews reports.

Camilleri took the top position at Ferrari in July after Marchionne fell ill following surgery. The industry veteran would later die a few days later. Shortly afterwards, shares in Ferrari fell by more than 8 per cent when Camilleri said Marchionne’s financial targets were “aspirational,” suggesting that they may not be achievable.

Marchionne pledged to double core earnings to 2 billion euros ($2.3 billion) by 2022 and introduce the Italian automaker’s first SUV.

“Investors want to hear whether Ferrari confirms the 2-billion-euro figure, which was already seen as ambitious and now somewhat put in question by the new CEO and how they plan to expand the portfolio, including an SUV,” general manager at investment fund Investitori, Emanuele Vizzini said.

Ferrari’s value has doubled since it was taken public in 2015 under Marchionne’s leadership and is in very strong health, easing pressure on Camilleri. However, the company does have some challenges ahead, especially as emissions rules tighten around the world, forcing Ferrari to adopt hybrid and electric technologies throughout its range.

Additionally, many Ferrari enthusiasts remain on the fence about the marque’s promised SUV. Some are doubtful that such a vehicle will prove a raging success while others assert that it will likely follow in the footsteps of the Lamborghini Urus, Rolls-Royce Cullinan, and Bentley Bentayga and be well-received by wealthy customers.

However, the Ferrari SUV turns out, Camilleri will be under constant scrutiny to ensure the car manufacturer and lifestyle brand takes no backwards steps.

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  • Mr. EP9

    I’m sure he’ll get things done. Although, some of Sergio’s plans will need revising as he was known for being on the ambitious side. Well, to put things lightly.

  • Thundersnow 463

    No please don’t do a stupid suv.

    • Mike Sinyaboot ©

      Ferrari would be insane to not produce a SUV and they have no choice if they want to double core earnings to $2 billion. The global market demands SUVs. Extremely wealthy customers want high performance SUVs. The Cayenne literally saved Porsche. With the addition of the Macan, Porsche now makes around $20k per car and continue to have the ability to produce amazing cars.

      The only people that get their panties in a bunch over these super SUVs are people that will never be able to buy one. Ferrari isnt in the business of selling 25 year old Miatas.

  • europeon

    marchionne’s plans and targets… LOL
    Since 2004 when the incompetent took over Fiat we learned just one thing: the targets and plans were all smoke and mirrors, and there isn’t a single one that was met. So I find it funny how there is pressure to fulfill some targets that not even marchionne would have met.

  • kachuks

    Make it a stupid fast compact crossover just for the sake of not doing what every other lux SUV is doing.

  • A bit unfair to think about it, Marchionne plans lately missed their intended target, and well no one in the board are dare to say something about it, now that he is gone, their successor would get a lot of pressure if Marchionne’s target isn’t fulfilled.

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