Ferrari is reshuffling its leadership after the company's first fully electric car became a target of online mockery.
According to Euronews, longtime executive Enrico Galliera is leaving the automaker not long after the debut of the €550,000 Luce.
What happened?
After more than 16 years overseeing Ferrari's marketing and commercial business, Euronews reported Galliera is set to be succeeded by Massimiliano Di Silvestre, the former head of BMW operations in Italy.
In his new role, Di Silvestre will report directly to Ferrari CEO Benedetto Vigna.
The leadership handoff comes shortly after Ferrari introduced the Luce, its first all-electric vehicle.
Ferrari developed the car with LoveFrom — the firm founded by former Apple design chief Jony Ive — and its smooth, edgeless look departed sharply from the brand's usual styling, drawing fast criticism from fans, investors, and public figures, Euronews reported.
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After the unveiling, Ferrari shares dropped over 8% in a single trading session, the outlet noted.
While Ferrari says interest in the Luce is strong, Di Silvestre now inherits the task of marketing an electric Ferrari at a time when demand for performance-oriented EVs has softened and scrutiny of the model remains high, Euronews reported.
In addition, the EV market is becoming more competitive as automakers learn how to make electric driving more affordable and convenient. For some, the high-priced Ferrari does not offer features that beat its much more price-conscious EV competitors.
Former Ferrari chairman Luca Cordero di Montezemolo warned that the car threatened the brand's legacy and suggested taking the Ferrari badge off the vehicle, Euronews reported.
Matteo Salvini, Italy's deputy prime minister, also joined the criticism, questioning the four-door model's starting price.
Euronews reported that Ferrari rejected any link between Galliera's departure and the backlash, saying he had planned to leave earlier.
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