Cars
Ferrari Slumps After CEO Says Marchionne Target Is ‘Aspirational’
- Supercar maker’s shares fall most in more than two years
- New chief Camilleri says goals carry ‘risks and opportunities’
Ferrari NV shares plunged the most in more than two years after the carmaker’s new chief executive officer called the supercar maker’s profit targets set by his predecessor Sergio Marchionne “aspirational.”
Louis Camilleri, speaking to analysts less than two weeks after taking over as CEO, said on a conference call Wednesday that he will outline in September how the luxury carmaker will attempt to reach the goal to double profit by 2022.