Ferrari CMO Steps Down Following Luce EV Launch

Ferrari has announced the appointment of a new Chief Marketing and Commercial Officer following backlash after the launch of its Luce EV. 

Massimiliano Di Silvestre will succeed Enrico Galliera, who has spent more than 16 years at Ferrari. According to the company, Enrico is stepping down from the role to “embark on a new chapter in his professional journey”. This decision, Ferrari says, was shared with the company “some time ago,” suggesting it may have been unrelated to the Luce EV launch. 

Benedetto Vigna, CEO of Ferrari, thanks Enrico for his "extraordinary contribution,” to the company over the past 16 years. 

“With passion and expertise, he has played a significant role in the Company’s growth and in strengthening the Ferrari brand worldwide,” he says. “He has the gratitude of the entire Ferrari team and my personal best wishes for the future.”

Extensive leadership experience

Massimiliano joins Ferrari from his role as President and CEO of BMW Italy, which he held for close to seven years – first joining the company in 2012. 

According to Ferrari, Massimiliano has “extensive” experience in the premium and luxury sector, holding a range of international leadership positions over the course of 20 years. His career has led to him developing expertise in managing complex organisations, driving commercial development and leading business transformation. 

Benedetto notes that he was pleased to welcome Massimiliano to Ferrari, saying that his “international experience and leadership will be an important asset,” for Ferrari as it plans to enter a new phase of growth. 

The Luce EV’s controversial launch

Ferrari received widespread criticism in May following the launch of its Luce model, Ferrari’s first ever EV car. The company faced significant backlash for the vehicle’s price – which stands at €550,000 (US$640,000) – and design. 

Upon the launch of the Luce, Ferrari’s share price initially dropped by 8%, with investors concerned about the success of the model.

Matteo Salvini, the Italian Deputy Prime Minister and Transport Minister described the Luce as “Electric, outrageously expensive (€550,000!) and, from an aesthetic point of view, it speaks for itself... It looks like anything but a car from the Prancing Horse. And this is supposed to be ‘innovation’? Who knows what Enzo Ferrari would say... ”

In an interview with Automoto, however, Enrico said that the Luce was “designed for a different type of customer, not necessarily for long-time Ferrari owners – although they are, of course, welcome to buy one”, adding that sales for the Luce are meeting Ferrari’s expectations. The company has said it will provide more detailed data on the volume of Luce orders in its second-quarter results, to be published at the end of July. 

Despite this response, it has been suggested that Enrico’s decision to leave the company may have come before the controversial Luce launch. 

According to a source reported on by Reuters, Enrico made the decision to leave Ferrari at the beginning of the year, agreeing to stay on for the EV launch.