Ferrari CEO Louis Camilleri is retiring from the function, efficient instantly.
Camilleri, 65, is stepping down for private causes, Ferrari stated in a statement on Thursday.
Ferrari’s Govt Chairman, John Elkann, will act as interim CEO whereas the corporate identifies a successor, Ferrari stated.
Camilleri may even hand over his board seat.
Camilleri is also retiring from his function as government chairman of tobacco big Philip Morris Worldwide, the Marlboro maker stated individually.
At Philip Morris, Camilleri’s retirement triggered a succession plan that has been in place for a while, the corporate stated.
Philip Morris CEO Andre Calantzopoulos will turn into government chairman. Lucio Noto, the corporate’s unbiased presiding director, will function interim chair within the meantime. Chief Working Officer Jacek Olczak will succeed Calantzopoulos as CEO when he takes the chairman spot.
Bloomberg contributed to this report