Ferrari Replaces Marketing Chief After EV Launch Sends Shares Down 8%
Ferrari replaced marketing chief Enrico Galliera after the disappointing launch of its first electric vehicle contributed to an 8% drop in the company’s shares.
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Ferrari replaced marketing chief Enrico Galliera after the disappointing launch of its first electric vehicle contributed to an 8% drop in the company’s shares.
Former Ferrari chairman Luca di Montezemolo criticized the new Ferrari Luce, saying the electric supercar risks ‘destroying the legend’ of the iconic brand amid widespread backlash over its design.
Ferrari shares dropped 7.57% after the company introduced its first fully electric vehicle to global markets.
Ferrari introduced its first fully electric supercar, the Luce, featuring 1,050 horsepower, a 2.4-second 0–100 km/h time, and interior design collaboration with former Apple designer Jony Ive.
Porsche reports a 91% drop in net profit for 2025, with earnings falling to €310 million from €3.6 billion a year earlier.
Mercedes-Benz design chief Gordon Wagener will leave the automaker after 28 years, ending a defining chapter in the brand’s design history.