Ferrari must “restart with humility” as it looks to recover from its worst Formula 1 season in 40 years in 2021, according to CEO John Elkann.

The Italian outfit endured a dismal 2020 campaign with its uncompetitive SF1000 car and failed to win a race as it struggled to sixth place in the constructors’ championship, marking its lowest F1 finishing position since 1980.

During a call with investors, Ferrari’s executive chairman and acting CEO Elkann said the F1 team’s slump in 2020 showed that it cannot afford to rest on its past success.

“[We celebrated] 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,” he added.

“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 from which we must restart with humility, focusing on what will make us competitive and ultimately lead to winning.”

Ferrari has signed Carlos Sainz to partner Charles Leclerc for the upcoming 2021 F1 season, having opted against renewing four-time world champion Sebastian Vettel’s contract.

Elkann is currently acting as temporary CEO following Louis Camilleri’s shock resignation in December as Ferrari continues its search for a full-time successor. He explained the process to identify a replacement is already well under way.

“We want to take the necessary time to find the best possible CEO for our company,” Elkann said.

“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.”



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