INTERNATIONAL - John Elkann, chairman of Ferrari and main shareholder Exor, reiterated his support for Ferrari chief executive Louis Camilleri, denying speculation a top management purge could be on the cards.
“I deny all rumours about both a possible return to the past and changes in our structure,” Elkann, a scion of Italy’s Agnelli family, said in a letter published on Wednesday in Italy’s Gazzetta dello Sport.
“My commitment to ensuring stability and concentration at Ferrari is total as is that of Chief Executive Louis Camilleri,” he said.
The sudden death in July last year of chairman and Chief Executive Sergio Marchionne triggered a change at the top of the luxury sportscar maker with Camilleri taking over as chief executive and Elkann as chairman.
In September Camilleri described as “aspirational” targets set by Marchionne.