Ferrari Announcement
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Ferrari N.V. (NYSE: RACE) has announced the resignation of Mattia Binotto as Scuderia Ferrari Team Principal, effective December 31, 2022. Binotto, who has spent 28 years with the company, expressed pride in his contributions and confidence in the team's future competitiveness. Benedetto Vigna, CEO of Ferrari, acknowledged Binotto's leadership in returning the team to a competitive stance. The search for a new Team Principal is currently underway, with plans to finalize the appointment in the new year.
Positive
- Mattia Binotto led the team back to competitive performance in 2022.
- The company is positioned to renew their challenge in motorsport.
Negative
- None.
Details
News Market Reaction – RACE
The recorded move for RACE in the trading session of this news was -0.34%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Maranello (Italy), November 29, 2022 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) announces that it has accepted the resignation of Mattia Binotto who will leave his role as Scuderia Ferrari Team Principal on December 31.
Benedetto Vigna commented: “I would like to thank Mattia for his many great contributions over 28 years with Ferrari and particularly for leading the team back to a position of competitiveness during this past year. As a result, we are in a strong position to renew our challenge, above all for our amazing fans around the world, to win the ultimate prize in motorsport. Everyone here at the Scuderia and in the wider Ferrari community wishes Mattia well for the future.”
Mattia Binotto said: “With the regret that this entails, I have decided to conclude my collaboration with Ferrari. I am leaving a company that I love, which I have been part of for 28 years, with the serenity that comes from the convinction that I have made every effort to achieve the objectives set. I leave a united and growing team. A strong team, ready, I’m sure, to achieve the highest goals, to which I wish all the best for the future. I think it is right to take this step at this time as hard as this decision has been for me. I would like to thank all the people at the Gestione Sportiva who have shared this journey with me, made up of difficulties but also of great satisfaction.”
The process is underway to identify Scuderia Ferrari’s new Team Principal and is expected to be finalised in the new year.
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