Ferrari CEO Camilleri has resigned from his position at the Italian supercar manufacturer. Recently hospitalized for COVID-19, Camilleri previously resigned from his position as chairman of tobacco giant Philip Morris. Camilleri also resigned from Ferrari's board of directors. The Maranello-based company said he retired due to personal reasons, while Camilleri himself did not comment beyond the usual resignation speech.

“Ferrari has been a part of my life and serving as its chief executive has been a great privilege,” Camilleri said in a statement. “My admiration for the extraordinary men and women of Maranello and for the passion and dedication they apply to everything they do, knows no bounds. I’m proud of the company’s numerous achievements since 2018 and know that Ferrari’s best years are still to come.”

Camilleri took over as CEO of Ferrari in July 2018, after Sergio Marchionne died from complications linked to cancer-related surgery. He oversaw the introduction of three production models, the F8 Tributo, SF90 Stradale, and the Roma. During his tenure, Ferrari also launched limited-edition and unique models like the P80/C and Omologata. Ferrari also broke its annual sales records twice while under Camilleri, moving 9,251 cars in 2018 and 10,131 units in 2019.

Louis Camilleri was the seventh CEO of Ferrari after Enzo retired in 1977 and had one of the shortest presidential stints at Maranello.

His position has been taken over by Ferrari chairman John Elkann. Also the chairman of Fiat Chrysler Automobiles, Elkmann joined Ferrari in July 2018, following the death of Sergio Marchionne. John Elkann will act as CEO until a permanent replacement will be found.