Ferrari Chief Executive Officer (CEO) Louis Camilleri has stepped down from his position at the Italian car-maker, the company announced on Thursday.
Camilleri’s exit comes around two-and-a-half years after he was appointed CEO following the death of Sergio Marchionne.
His decision to resign his post comes after he suffered health problems and was hospitalised with COVID-19 in recent weeks, Reuters cited company sources as saying.
However, Camilleri’s health is not what prompted his decision to leave Ferrari, sources clarified.
On the same day, Philip Morris International (PMI) announced that Camilleri was stepping down from his role as executive chairman.
Ferrari chairman John Elkann will perform Camilleri’s duties at the automaker on an interim basis while they search for a replacement.
“It is with great regret that I, and all of us in the Ferrari family, have learned of Louis Camilleri’s decision to step down for personal reasons from his role as our Chief Executive,” Elkann said in a letter.
Continuing, he said: “Louis’ leadership and passion have guided Ferrari to delivering impressive results.”
Elkann is the chairman of Fiat Chrysler Automobiles and serves as CEO and chairman of the Agnelli-owned Exor holding company, Ferrari’s largest shareholder.