Ferrari’s Chief Marketing Officer Has Stepped Down Amid Backlash From the Marque’s First EV
Ferrari is shaking things up at the top just one month after the debut of its first EV.
Earlier this week, the Italian sports car maker announced its longtime chief marketing and commercial officer, Enrico Galliera, is leaving the company. His role in Ferrari’s leadership group will be filled by Massimiliano Di Silvestre, who was previously the president and CE.
In a press release announcing the news, the marqueMarqueA brand name of a car manufacturer, particularly one associated with prestige, such as Ferrari, Rolls-Royce, or Aston Martin. The term emphasizes a make's heritage and identity beyond product lines,Go to Marque Glossary said Galliera, who has served as its head of marketing since 2010, “has decided to embark on a new chapter in his professional journey,” and that he informed his bosses of his intention to do so “some time ago.” His replacement, Di Silvestre, is set to begin work on July 1 and will report directly to the company’s chief executive officer, Benedetto Vigna.
“I would like to thank Enrico for the extraordinary contribution he has made to Ferrari throughout his long career,” Vigna said of Galliera in a statement. “With passion and expertise, he has played a significant role in the Company’s growth and in strengthening the Ferrari brand worldwide. He has the gratitude of the entire Ferrari team and my personal best wishes for the future.”
During his time at the company, Galliera helped the automaker strengthen its global brand, more than double deliveries, and significantly increase revenue, according to Motor1.com. The executive also played a major role in the launch of the marque’s first electrified model, the hybrid LaFerrari, and unveiling its first fully battery-powered model, the Luce. Ferrari’s announcement states it was the executive’s decision to leave (and Reuters reports he informed the brand of his intention at the beginning of the year), but it’s hard not to notice that the move comes just one month after the brand’s first EV made its public debut.
In a little over a month, the Luce has proven to be one of the most divisive automobiles in recent memory. The purists were always going to take issue with a Prancing Horse that had an electric powertrain instead of snarling internal combustion engine, but its unorthodox design, courtesy of Jony Ivy’s LoveFrom studio, has received just as much criticism. Some have even compared the 550,000 euro EV’s look to that of the $30,000 Nissan Leaf. The backlash was so fierce that Lamborghini CEO Stephan Winkelman, while not referring to Ferrari by name, told CNBC that he was confident his company made the right decision in cancelling its first EV.
It should be noted that while Ferrari’s stock price dipped in the immediate wake of the reveal, it has risen by more than 11 percent in the month since. The Luce could still turn out to be a success, too, but that’s a new head of marketing’s problem now.
Frequently Asked Questions
Enrico Galliera, Ferrari’s longtime chief marketing and commercial officer, is leaving the company after a long tenure with the Italian automaker. He had served as Ferrari’s head of marketing since 2010.
Massimiliano Di Silvestre will replace Enrico Galliera in Ferrari’s leadership group. He is set to begin the role on July 1 and will report directly to Ferrari CEO Benedetto Vigna.
Ferrari said Galliera has “decided to embark on a new chapter in his professional journey.” According to the company, he informed leadership of his intention to leave some time ago.
During his time at Ferrari, Galliera helped strengthen the brand globally, more than double deliveries, and significantly increase revenue. He also played a role in major product launches, including the hybrid LaFerrari and Ferrari’s first fully electric model, the Luce.
Ferrari has not said Galliera’s departure is connected to the Luce. The company stated that the decision was his and that he had informed leadership earlier, though the timing comes shortly after Ferrari revealed its first fully electric vehicle.
The Luce is Ferrari’s first fully battery-powered model. It marks a major shift for the Prancing Horse, which has long been defined by high-performance internal combustion engines.
The Luce has divided Ferrari fans because of its electric powertrain and unconventional design. Some purists object to the idea of a fully electric Ferrari, while others have criticized the car’s styling.
The Ferrari Luce is reported to cost around 550,000 euros, placing it firmly in the ultra-luxury EV category.
Ferrari’s stock dipped shortly after the Luce was revealed, but it has since risen by more than 11 percent in the month following the debut.
Yes. Despite the backlash, the Luce could still become a commercial success. Ferrari’s brand strength, scarcity model, and loyal customer base may help the EV find buyers even as public reaction remains divided.
This article originally appeared in Robb Report US.