F1: Ferrari (NYSE:RACE) Planning for the Long Term with Charles Leclerc

F1: Ferrari (NYSE:RACE) Planning for the Long Term with Charles Leclerc

F1: Ferrari (NYSE:RACE) Planning for the Long Term with Charles Leclerc

$RACE

Ferrari (NYSE:RACE) team principal Maurizio Arrivabene says that the decision to replace the experience of Kimi Raikkonen, 38 anni, with the raw talent of Charles Leclerc, 20 anni, for next season was made with the long-term of The Scuderia in mind.

Mr. Leclerc has impressed in his first F1 season at the modest Sauber team and Ferrari Academy graduate from Monaco was announced earlier this week as 4X world champion Sebastian Vettel’s team mate from Y 2019 forward.

Speaking to reporters at the Singapore Grand Prix Friday, Mr. Arrivabene stressed he was the driving force behind the decision to hire Mr. Leclerc, feeling that Mr. Raikkonen’s subsequent move back to Stauber works best for all concerned.

“When you make choices like this, that are related to the driver, you don’t only have to make a short-term commitment but a long-term one,” Mr. Arrivabene said.

“We are not only looking ahead to next year, we are looking into the future, that being the future of the team.

“This was a decision taken by me, discussed with the Top management and taking into consideration many, many factors. It has nothing to do with the respect I have for Kimi as both a human being and as a driver,” he added.

“If you have to make a choice about the future of the team then I think we made the right one for us and for Kimi, who we appreciate for everything he has done for us and wish him the best for the future.”

Mr. Arrivabene added that while the step up for Mr. Leclerc, the reigning F2 world champion, was major, Ferrari would not be demanding too much from the driver in the early stages of his career at the Maranello Outfit.

“The 1st mistake would be to put much too much pressure on the shoulders of this guy… that could be potentially a huge mistake,” he said.

“Charles signed his 1st contract at the Ferrari Academy in November 2015. In that contract, we designed a future for him in F1, making sure we made adjustments at the academy to ensure drivers would eventually make the step up.

“All the other teams are doing this so its good for F1 to be taking these steps to build towards the future.”

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 131.92  14 September 2018 -1.53 133.1 134.3 131.47 572,428
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Neutral (0.11) Neutral (0.15) Bullish (0.48) Bearish (-0.31)

Tune in for the racing at Singapore this weekend.

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Paul Ebeling

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