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Ferrari facing "restart with humility" after "painful reality" of 2020 - Elkann

Ferrari facing "restart with humility" after "painful reality" of 2020 - Elkann

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Ferrari facing "restart with humility" after "painful reality" of 2020 - Elkann

Ferrari facing "restart with humility" after "painful reality" of 2020 - Elkann

Ferrari chairman John Elkann has revealed the Scuderia has been forced to face up to the "painful reality" of last season's dismal results and must "restart with humility" in its attempt to return to winning ways.

The 2020 campaign proved to be Ferrari's worst for 40 years as it finished sixth in the Formula 1 constructors' championship, a staggering 442 points adrift of champions Mercedes.

The deficiencies of the SF1000 were laid bare on track, and in tandem with the poor performances of departing driver Sebastian Vettel, the results told a wretched story.

Elkann believes the season underlined that Ferrari cannot rest on the laurels of its storied and successful history, and must rebuild if it is to recapture former glories.

“2020 was a year of celebration - our 1,000th grand prix, the highest number in Formula 1 ever reached, our victories in the GT racing season, and we reached over 2.5 million visitors in our eSports series,” said Elkann during a conference call reflecting on the company's Q4 earnings and results.

“But our 2020 Formula 1 results reminded us that a great past doesn’t equate to a great present or future.

“This painful reality, both for ourselves and our fans, is that we must restart with humility, focusing on what will make us competitive and ultimately lead to winning.”

Elkann has confirmed the search for a new CEO remains ongoing following the resignation in December of Louis Camilleri for health reasons but who was well enough to listen in to the call.

Currently serving as acting CEO, Elkann added: "We have established, as a board, a search committee, which is responsible for a process to identify the right successor to Louis Camilleri, and we want to take the necessary time to find the best possible CEO for our company.

“On this note, I would like to express my most sincere thank you to Louis, for his personal commitment as our CEO since 2018, and as a member of our board since 2015.

"His passion for Ferrari is and has been limitless. Under his leadership, the company has further affirmed its position as one of the world's greatest companies.

"Louis built a leadership team that is continuing to propel our company forwards, as our results demonstrate, and for which I am personally grateful to him and to all of my colleagues at Ferrari."

Elkann also insisted that Ferrari, as an automotive company and with its F1 team, is dedicated in its pursuit of becoming carbon neutral by 2030.

"As we enter into 2021, we continue to work on our product plan for this exciting decade ahead, adapting it to a fast-evolving environment," said Elkann.

"Our journey to carbon neutrality will provide a wider framework for our future. We are working on a clear plan, including Formula 1, to become carbon neutral through actions taken directly, and indirectly, within this decade."

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