Ferrari Management

Management criteria checks 2/4

Ferrari's CEO is Benedetto Vigna, appointed in Sep 2021, has a tenure of 3.17 years. total yearly compensation is €6.69M, comprised of 22.4% salary and 77.6% bonuses, including company stock and options. directly owns 0.006% of the company’s shares, worth €4.61M. The average tenure of the management team and the board of directors is 6.3 years and 8.6 years respectively.

Key information

Benedetto Vigna

Chief executive officer

€6.7m

Total compensation

CEO salary percentage	22.4%
CEO tenure	3.2yrs
CEO ownership	0.006%
Management average tenure	6.3yrs
Board average tenure	8.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Benedetto Vigna's remuneration changed compared to Ferrari's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	€1b
Jun 30 2024	n/a	n/a	€1b
Mar 31 2024	n/a	n/a	€1b
Dec 31 2023	€7m	€2m	€1b
Sep 30 2023	n/a	n/a	€1b
Jun 30 2023	n/a	n/a	€1b
Mar 31 2023	n/a	n/a	€990m
Dec 31 2022	€5m	€2m	€933m
Sep 30 2022	n/a	n/a	€927m
Jun 30 2022	n/a	n/a	€907m
Mar 31 2022	n/a	n/a	€864m
Dec 31 2021	€6m	€500k	€831m

Compensation vs Market: Benedetto's total compensation ($USD7.05M) is above average for companies of similar size in the Italian market ($USD3.23M).

Compensation vs Earnings: Benedetto's compensation has increased by more than 20% in the past year.

CEO

Benedetto Vigna (55 yo)

3.2yrs

Tenure

€6,692,434

Compensation

Mr. Benedetto Vigna serves as Chief Executive Officer and Executive Director at Ferrari N.V. since April 13, 2022 and also served as Acting Chief Executive Officer since September 16, 2021 until April 13,...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
John Elkann	Executive Chairman	8.6yrs	€2.39m	0.017% € 12.7m
Benedetto Vigna	CEO & Executive Director	3.2yrs	€6.69m	0.0063% € 4.6m
Antonio Piccon	Chief Financial Officer	6.3yrs	no data	no data
Davide Abate	Chief Technologies & Infrastructures Officer	2.8yrs	no data	no data
Nicoletta Russo	Head of Investor Relations	9.3yrs	no data	no data
Carlo Daneo	General Counsel	9.3yrs	no data	no data
Marco Lovati	Chief Internal Audit	less than a year	no data	no data
Francesca Montini	Chief Communications Officer	1.6yrs	no data	no data
Enrico Galliera	Chief Marketing & Commercial Officer	14.6yrs	no data	no data
Michele Antoniazzi	Chief Human Resources Officer	8.6yrs	no data	no data
Flavio Manzoni	Chief Design Officer	14.8yrs	no data	no data
Andrea Antichi	Chief Manufacturing Officer	2.8yrs	no data	no data

6.3yrs

Average Tenure

55yo

Average Age

Experienced Management: RACE's management team is seasoned and experienced (6.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
John Elkann	Executive Chairman	8.6yrs	€2.39m	0.017% € 12.7m
Benedetto Vigna	CEO & Executive Director	3.2yrs	€6.69m	0.0063% € 4.6m
John Galantic	Independent Non-Executive Director	4.6yrs	€83.00k	0.000060% € 44.0k
Piero Ferrari	Independent Vice Chairman	8.8yrs	€86.86k	10.55% € 7.7b
Michelangelo Volpi	Independent Non Executive Director	1.6yrs	€49.51k	no data
Sergio Duca	Chairman of the Board & Senior Independent Non-Executive Director	8.8yrs	€110.67k	no data
Delphine Gancia	Independent Non-Executive Director	8.6yrs	€73.78k	0.0016% € 1.1m
Adam Phillip Charles Keswick	Independent Non-Executive Director	8.6yrs	€69.17k	0.0015% € 1.1m
Maria Patrizia Grieco	Independent Non-Executive Director	8.6yrs	€78.39k	no data
Eduardo Cue	Independent Non-Executive Director	8.8yrs	€78.39k	0.0015% € 1.1m
Francesca Bellettini	Independent Non-Executive Director	4.6yrs	€78.39k	no data

8.6yrs

Average Tenure

58yo

Average Age

Experienced Board: RACE's board of directors are considered experienced (8.6 years average tenure).

Ferrari Management

Management criteria checks 2/4

Key information

Recent management updates

Insufficient new directors

Insufficient new directors

CEO & Executive Director recently sold €368k worth of stock

Ferrari N.V. Appoints Lorenzo Giorgetti as Chief Racing Revenue Officer

Ferrari N.V., Annual General Meeting, Apr 14, 2023

CEO & Executive Director recently sold €726k worth of stock

Recent updates

Third quarter 2024 earnings: EPS exceeds analyst expectations

Insufficient new directors

New minor risk - Financial position

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Ferrari N.V. Provides Earnings Guidance for the Full Year of 2024

Ferrari N.V. Approves Cash Dividend, Payable on May 3, 2024

Upcoming dividend of €2.44 per share

Insufficient new directors

Dividend increased to €2.44

Full year 2023 earnings: EPS exceeds analyst expectations

Investor sentiment improves as stock rises 15%

Ferrari N.V. to Report Q2, 2024 Results on Aug 01, 2024

Ferrari N.V. to Report Q4, 2023 Results on Feb 01, 2024

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Ferrari N.V. Revises Earnings Guidance for the Full Year of 2023

Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations

First quarter 2023 earnings released: EPS: €1.63 (vs €1.30 in 1Q 2022)

Upcoming dividend of €1.81 per share at 0.7% yield

CEO & Executive Director recently sold €368k worth of stock

Ferrari N.V. Appoints Lorenzo Giorgetti as Chief Racing Revenue Officer

Full year 2022 earnings released: EPS: €5.10 (vs €4.50 in FY 2021)

Price target increased by 7.4% to €241

Ferrari N.V., Annual General Meeting, Apr 14, 2023

Ferrari N.V. to Report Q4, 2022 Results on Feb 02, 2023

CEO & Executive Director recently sold €726k worth of stock

Ferrari N.V. Announces the Resignation of Mattia Binotto as Scuderia Ferrari Team Principal

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Ferrari N.V. Raises Revenue Guidance for the Full Year of 2022

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Ferrari N.V. (NYSE:RACE) announces an Equity Buyback for €2,000 million worth of its shares.

First quarter 2022 earnings: EPS exceeds analyst expectations

Ferrari N.V. Approves Cash Dividend, Payable on May 6, 2022

Upcoming dividend of €1.36 per share

Ferrari N.V. Proposes Dividend Distribution; Payable on May 6, 2022

Full year 2021 earnings: EPS exceeds analyst expectations

Ferrari N.V. Provides Earnings Guidance for the Year 2022

Price target increased to €191

Third quarter 2021 earnings released: EPS €1.12 (vs €0.92 in 3Q 2020)

Second quarter 2021 earnings released: EPS €1.12 (vs €0.048 in 2Q 2020)

Ferrari N.V. Postpones Earnings Guidance for the Year 2022

Upcoming dividend of €0.87 per share

Full year 2020 earnings released: EPS €3.29 (vs €3.73 in FY 2019)

Revenue and earnings beat expectations

Ferrari and Richard Mille Sign A Partnership Contract

New 90-day low: €164

Ferrari N.V. Announces Resignation of Mr. Roberto Cingolani as Non-Executive Director and Member of the Governance and Sustainability Committee of the Board of Directors

Non- Executive Director has left the company

Full year 2020 earnings released: EPS €3.29 (vs €3.73 in FY 2019)

Revenue and earnings beat expectations

New 90-day low: €165

Ferrari N.V. to Report Q4, 2020 Results on Feb 02, 2021

New 90-day high: €182

Board of Directors Announces Retirement of Louis Camilleri from the Board of Directors

Third quarter 2020 earnings released: EPS €0.92

Earnings beat expectations, revenue disappoints

New 90-day high: €168

New 90-day high - €163

First half earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure