Ferrari’s (NYSE:RACE) New Man at the Wheel, Louis Camilleri
- F1 is always packed with intrigue…
And so, the F1 press was intrigued to see how Ferrari’s new CEO Louis Camilleri came across during his 1st appearance in front of the them at Monza Friday.
There is was, turned out in jeans, long sleeve polo shirt and a dark blue blazer to meet the press.
Relatively unknown outside of The Scuderia, despite his long running connections with the Maranello Outfit and its title sponsor Philip Morris, the fact he has come in as successor to Sergio Marchionne in an untimely has increased the Tier 1 motorsport press’ fascination
Mr. Marchionne was known for an aggressive approach to management and business: demanding total commitment from those who worked for and with him, he was combative with all opponents. That is what the Agnelli Family wanted of him, they got it.
This no-nonsense approach was clear to all, including Liberty Media (NASDAQ:LCMA) and all of the other F1 team bosses. They were all on the receiving ends of Mr. Marchionne’s threats to pull Ferrari out of Grand Prix racing if it didn’t like future rules.
The contrast between Mr. Marchionne’s aggressive style of leadership and Ferrari’s new CEO Louis Camilleri 1st officail F1 media appearance was very clear.
Mr. Camilleri does not want to shake things up in a way that Mr. Marchionne did when he arrived as successor to the iconic Luca di Montezemolo.
Mr. Camilleri praised team principal Maurizio Arrivabene, the former Marlboro brand manager, praisd Sebastian Vettel and Kimi Raikkonen, backed off of F1 exit threats, and made clear that with “momentum” behind Ferrari there was no need for a reviluzione.
Despite his soft approach, do mistake to underestimate Mr. Camilleri, as his approach to problem solving means taking a different path to Mr. Marchionne, the goals are the same, Win!
“Sergio and I clearly have very different styles, however I think we have the same ambition and we had a mutual respect,” Camilleri said.
“We clearly discussed the Ferrari business as well as the Philip Morris business many, many times. So, I miss him. And he clearly was an amazing individual. A huge brain, boundless energy, and very ambitious, as am I.”
Mr. Camilleri is already suggesting a more conciliatory approach from Ferrari, but we will not have to wait long to see whether this public calmness flows over to hard line business practice.
Ferrari’s investor conference on 18 September will show us how different the Maranello Outfit will really be in the post-Marchionne Era.
|NYSE:RACE||131.09||31 August 2018||-1.84||132.89||132.89||129.92||526,800|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Neutral (-0.01)||Neutral (0.12)||Neutral (0.06)||Neutral (-0.22)|
Enjoy the racing at Monza, the Temple of Speed.