Bluefield Partners: Ferrari’s CEO, Amedeo Felisa will remain at the company’s helm despite rumors he might leave before the IPO.
Bluefield Partners, the Shenzhen, China-headquartered broker-dealer and wealth manager says it is relieved that Amedeo Felisa, the Chief Executive Officer at Ferrari, will remain in place until after the IPO.
Rumors had circulated that Felisa, who is nearly 70 years old, wished to retire before the company’s IPO took place but FCA (Fiat Chrysler Automobiles) boss Sergio Marchionne, said that no discussion had taken place over who would succeed Mr. Felisa who joined the company as an engineer in 1990.
“While it’s easy to say that the floatation of a company like Ferrari will be successful regardless of whom is sat at the helm, for the sake of confidence, it wouldn’t look like a vote of confidence if the CEO was seen departing just before the company went public,” said Joel Cooper, Chief Investment Officer at Bluefield Partners.
“We think Marchionne wanted to avoid a repeat of the speculation that surrounded the departure of former Ferrari President, Luca di Montezemolo who left Ferrari in 2014 amid rumored acrimony over plans for the company’s direction. There have been suggestions that Mr. Marchionne himself could step into Felisa’s shoes but we think he relishes the challenge of returning FCA to health,” he added.
Mr. Marchionne said that he hoped Mr. Felisa would remain at the company in some capacity citing continuity as being particularly important to a commercially successful company that was making such a fundamental change in its set up. Bluefield Partners says it expects Ferrari to be valued at close to $11 billion when it finally goes public in the 4th quarter of the year.
About Bluefield Partners:
Bluefield Partners was established in 2005. We are headquartered in Shenzhen, China with presence in Beijing, Shanghai and Hong Kong.
Bluefield Partners functions as a privately held Investment Counseling and Advisory firm. We render investment and advisory services for individuals, trusts and charities who want their wealth managed professionally. Portfolios are tailored for each client on an individual basis. We are committed to enhancing your wealth and protecting your future.
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