Ferrari Taps Ex-BMW Italy Head After 8% Drop Over €550K Luce EV
RACE•Ferrari marketing chief Enrico Galliera stepped down after 16 years, replaced by former BMW Italy head Massimiliano Di Silvestre starting July 1, reporting to CEO Benedetto Vigna. The switch follows an 8% share drop triggered by public backlash to its €550,000 Luce EV reveal, stoking investor concern.
1. Executive Leadership Change
Ferrari announced that Enrico Galliera, its chief marketing and commercial officer for over 16 years, will step down on June 30. His successor, Massimiliano Di Silvestre, the former head of BMW’s Italian division, assumes the role on July 1 and reports directly to CEO Benedetto Vigna.
2. EV Debut Backlash
The leadership change comes after the reveal of the Luce, Ferrari’s first fully electric model, which features edgeless styling by LoveFrom and carries a starting price of €550,000. Enthusiasts and former executives criticized the radical design, and Italy’s deputy prime minister questioned its premium pricing.
3. Market Reaction
Ferrari’s shares plunged more than 8% in a single session following the Luce unveiling, marking one of the steepest daily moves for the stock this year. Investors remain cautious as demand for high-performance EVs cools and waiting lists face uncertainty.
4. Strategic Implications
Di Silvestre brings over two decades of premium automotive experience and will be tasked with revitalizing Ferrari’s EV appeal and stabilizing commercial momentum. The company expects clearer insights into Luce demand when it reports second-quarter results on July 30.
