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Ferrari CEO Steps Down

TheMotleyFool

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Ferrari (NYSE: RACE) has a new man in the driver's seat. The company announced that its CEO, Louis Camilleri, has stepped down "for personal reasons," about which it did not elaborate. He is also vacating his seat on the luxury car maker's board of directors.

The resignation was effective immediately, and Camilleri has been replaced as CEO on an interim basis with the company's executive chairman, John Elkann. The board will head the search for a permanent replacement.

Ferrari did not mention anything about the newly vacant board seat.

Source Fool.com

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