business
Ferrari Marketing Chief to Leave After 16 Years
The luxury carmaker said its chief marketing and commercial officer will depart in the coming weeks. The announcement follows the May unveiling of the company's first all-electric model.
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Ferrari announced this week that its chief marketing and commercial officer will leave the company after 16 years. The executive will be replaced in July by the former head of BMW Italy. The company said the departure had been planned for some time and thanked the executive for contributions to growth and brand development. The statement did not reference the May launch of the all-electric model.
Background on the Electric Model The all-electric vehicle was unveiled in May at a price of $640,000. Its design drew widespread criticism online and prompted an 8% drop in the company's shares the following day. The outgoing executive had overseen client allocation for limited-production vehicles since taking the role in 2010.
During that period the company launched its first hybrid hypercar and listed shares on the New York Stock Exchange.
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