Ferrari names Lorenzo Giorgetti as chief racing revenue officer

Rizzoli Corriere Della Sera Mediagroup SpA

07/02/2023 11:42

MILAN, Feb 7 (Reuters) - Ferrari  RACE.MI  said on
Tuesday it had appointed Lorenzo Giorgetti to the newly-created
position of chief racing revenue officer, tasked with boosting
long-term relations with sponsors across all racing activities.
    Among his previous posts Giorgetti has been chief commercial
officer at Serie A soccer club AC Milan and head of commercial
management in the sports division of Italian publisher RCS
Mediagroup  RCSM.MI , Ferrari said in a statement.
    He will directly report to Ferrari's CEO Benedetto Vigna and
will also cover the booming Esports field of videogame sport
competitions.
    Giorgetti is currently a board member of the Global Esports
Federation.  
    The appointment shows a greater focus by Vigna, who has
redesigned the company's top management structure since taking
over as CEO a year-and-a-half ago, on commercial expansion
linked to Ferrari's racing activities.
    It comes just after Ferrari appointed Frenchman Frederic
Vasseur as its new Formula One team principal in an effort to
regain competitiveness in its flagship competition.   
    Ferrari's revenues from 'sponsorship, commercial and brand',
which include those earned by its Formula One racing team
through sponsorship agreements, rose 11% last year to 479
million euros ($512 million).
($1 = 0.9349 euros)
 (Reporting by Giulio Piovaccari, editing by Gavin Jones)
 ((giulio.piovaccari@thomsonreuters.com))