Long time Ferrari Chairman and CEO Sergio Marchionne will not be returning to work following surgery on his right shoulder on July 5, 2018. The Chairman and CEO of Exor, John Elkann, has been appointed to the position as Ferrari Chairman. Shareholders will vote for the new CEO of Ferrari next week.
Marchionne underwent surgery on his right shoulder in Switzerland on July 5, 2018 and has been recovering. However, his medical condition declined rapidly following complications. It was announced on Saturday that he would be unable to return to work.
The position of Ferrari Chairman has been given immediately to John Elkann. He has been the Chairman and CEO of Exor for many years. Exor is an investment company that owns a large stake in Fiat Chrysler Automobiles and Ferrari. He also takes on the role of Chairman at Fiat Chrysler Automobiles.
Louis Camilleri has currently taken over the role for Ferrari CEO until the shareholders can vote next week. He will be recommended by the Board of Directors to maintain the position permanently. He is the former Chairman of the American tobacco company Philip Morris International.
Michael Manley, the CEO of Jeep, will take the position of CEO at Fiat Chrysler Automobiles.
Sergio Marchionne passed away in hospital on July 25, 2018.
