TL;DRFerrari is replacing its marketing chief one month after the Luce EV reveal sent its stock down 8 percent and drew public criticism from its former chairman.
Ferrari is replacing its Chief Marketing and Commercial Officer Enrico Galliera, who has held the role for more than 16 years, with former BMW Italy CEO Massimiliano Di Silvestre. The change takes effect July 1 and comes exactly one month after the controversial reveal of the Luce, Ferrari’s first fully electric vehicle, which sent the company’s Milan-listed shares down more than 8 percent.
Ferrari said the departure was planned and that Galliera had shared his decision to leave “some time ago,” agreeing to stay through the Luce launch before pursuing what the company described as a new professional chapter. CEO Benedetto Vigna praised Galliera’s contributions and his role in building Ferrari’s commercial strategy over nearly two decades.
The timing, however, is difficult to separate from the Luce fallout. The four-door, five-seat electric car was unveiled in Rome on May 25, with a starting price of 550,000 euros, roughly $640,000. Within 48 hours, Ferrari’s market capitalisation had dropped by roughly four billion dollars.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!The backlash centred on the exterior design, which was created in collaboration with LoveFrom, the design firm founded by former Apple chief design officer Jony Ive. The Luce’s smooth, edgeless surfaces broke sharply from Ferrari’s angular design language, and critics compared it to everything from a rejected Apple Car concept to a mass-market Chinese EV.
