After Ferrari’s controversial unveiling of its first-ever EV, the timing of its latest leadership change is raising some eyebrows.
The luxury sports car company announced Tuesday that it is replacing longtime Chief Marketing and Commercial Officer Enrico Galliera. He will be succeeded on July 1 by Massimiliano Di Silvestre, the former head of BMW Italy.
The leadership shakeup comes just a month after Ferrari revealed the exterior of its upcoming Luce EV, a collaboration with LoveFrom, the creative collective founded by former Apple design chief Jony Ive. The car’s design quickly proved controversial with Ferrari fans and investors. Ferrari’s Milan-listed shares fell more than 8% after the reveal, while its New York-listed shares dropped more than 5%.
So, it is fair to say the timing of this high-level departure looks a little suspicious.
Still, Ferrari maintains that’s not the case. According to a press release, Galliera, who has been with the company for more than 16 years, decided to leave Ferrari to “embark on a new chapter in his professional journey.” Ferrari said that the decision had been shared with the company “some time ago.”
“I would like to thank Enrico for the extraordinary contribution he has made to Ferrari throughout his long career,” Ferrari CEO Benedetto Vigna said in the press release. “With passion and expertise, he has played a significant role in the Company’s growth and in strengthening the Ferrari brand worldwide.”
But no matter how Ferrari characterizes the departure, the timing will inevitably spark speculation about whether the Luce rollout played any role.
Ferrari revealed information about the EV in phases. The company shared initial specs in October, followed by a closer look at the interior in February, which gave the first real hint of what a LoveFrom-designed Ferrari would look like.
The interior had more screens than a traditional Ferrari, but still managed to look luxurious. The Luce’s cabin leans into Ive’s familiar aesthetic, featuring rounded forms, aluminum, and glass throughout.
It wasn’t until May that Ferrari unveiled the full car, exterior and all. The Luce looked very different from any Ferrari that has come before and quickly drew backlash from some of the brand’s most loyal fans.
Even former Ferrari Chairman Luca di Montezemolo criticized the car’s design.
“If I say what I think, I’d cause harm to Ferrari,” Montezemolo told reporters at the time. “We’re risking the destruction of an icon.”
Yet, later that week, Ferrari CEO Benedetto Vigna said the company had received strong interest in the car.
The four-door Luce starts at 550,000 euros ($640,000) with first deliveries expected to begin in the fourth quarter of this year.
Ferrari may give investors a better sense of demand for the car next month, when it reports its second-quarter results on July 30.
