Ferrari N.V. announced this week that Louis Camilleri has decided to retire with immediate effect from his role as the company’s CEO and as member of the board of directors. Media reports indicate Camilleri made the decision following a bout with COVID-19.

Ferrari’s Executive Chairman, John Elkann, acknowledging with regret Camilleri’s decision, announced he will act as interim CEO while the Ferrari board of directors will manage the ongoing process of identifying Camilleri’s successor.

Commenting on Camilleri’s retirement, Elkann said, “I would like to express our most sincere thanks to Louis for his unstinting dedication as our chief executive officer since 2018 and as member of our board of directors since 2015. His passion for Ferrari has been limitless and under his leadership the company has further affirmed its position as one of the world’s greatest companies, capitalizing on its truly unique heritage and unerring quest for excellence. We wish him and his family a long and happy retirement.”

Camilleri commented, “Ferrari has been a part of my life and serving as its chief executive has been a great privilege. 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.”