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		</div><p>Ferrari says chief executive Louis Camilleri has resigned for personal reasons.</p>
<p>John Elkann, chairman of the luxury sports car brand, will take over until a successor is named, Ferrari said in a statement.</p>
<p>Mr Camilleri, who took over in 2018 following the death of long-time CEO Sergio Marchionne, is also stepping down as chairman of Phillip Morris International, one of Ferrari’s main sponsors.</p>
<p>A source said Mr Camilleri had been stricken with Covid-19 and was convalescing at home after being treated in hospital, but the source stressed that the reason for the retirement was personal, not health-related.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">Chief Executive Officer Louis Camilleri Retires for Personal Reasons; Executive Chairman John Elkann acting Chief Executive Officer. <a href="https://t.co/UhE1IYXoig">https://t.co/UhE1IYXoig</a></p>
<p>&mdash; Ferrari (@Ferrari) <a href="https://twitter.com/Ferrari/status/1337309729715073024?ref_src=twsrc%5Etfw">December 11, 2020</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>When he took over as chief executive, Mr Camilleri unveiled a business plan that included reviving famous models embedded with Formula One technology and expanding Ferrari’s electric-petrol hybrid powertrain offerings.</p>
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<p>Ferrari, based in the Emilia Romagna region which has been one of the hardest-hit by coronavirus in Italy, reported flat third-quarter profits as a result of Italy’s production shutdown.</p>
<p>Net profits were 171 million euros (£157 million) in the quarter, compared with 169 million euros (£155 million) in the same period last year.</p>
<p>Shipments were down by 161 units to 2,313 vehicles.</p>
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