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Louis Camilleri steps down as Ferrari CEO and Philip Morris executive chair

·1 min read
New Ferrari's CEO Louis Carey Camilleri arrives at the memorial service held in honor of former CEO Sergio Marchionne in Turin
New Ferrari's CEO Louis Carey Camilleri arrives at the memorial service held in honor of former CEO Sergio Marchionne in Turin

(Reuters) -Ferrari Chief Executive Officer Louis Camilleri has retired for "personal reasons" and Executive Chairman John Elkann has been appointed as interim CEO, the luxury automaker said on Thursday.

The company's board is identifying a permanent successor to Camilleri, Ferrari said in a statement, which did not give further details.

Camilleri, executive chairman of Philip Morris International (PMI), also retired from the role, the Marlboro maker said separately on Thursday.

Philip Morris appointed CEO André Calantzopoulos to serve in Camilleri's stead.

PMI's independent presiding director Lucio Noto will serve as interim chairman until Calantzopoulos' succession in May, the company said.

Chief Operating Officer Jacek Olczak will succeed Calantzopoulos as CEO in May.

(Reporting by Uday Sampath and Kanishka Singh in Bengaluru; Editing by Shinjini Ganguli)

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