Ferrari is seeking stability for the future and has renewed an important shareholder agreement with Exor, the investment company owned by the Agnelli family. Exor and Ferrari, together with Piero Ferrari, have agreed to extend the shareholders’ pact that governs the Italian luxury sports car manufacturer. The news was reported by Reuters through a statement released by the Dutch holding company controlled by the Agnelli family.
The new ten-year agreement came into force upon the expiration of the previous shareholders’ pact on Sunday, January 4, and will remain valid until January 4, 2029. The deal also includes an automatic renewal for a further three years, unless one of the parties decides to withdraw. This information was confirmed in an official press release issued jointly by Exor and Piero Ferrari.
This is a significant agreement, as both parties commit to consulting each other regarding their respective positions within Ferrari’s shareholders’ meetings. The pact also establishes pre-emption rights in the event of transfers of Ferrari shares to third parties. Its primary objective is to preserve a high level of stability within the company during a particularly delicate historical period, not only from a corporate perspective but also in relation to Ferrari’s presence and performance in Formula 1.
Exor currently holds around 20% of Ferrari’s share capital. Piero Ferrari, meanwhile, is the company’s second-largest shareholder with a stake of 10.6%. Together, Exor and Piero Ferrari control more than 48% of the voting rights, giving them a decisive influence over the strategic direction of the Maranello-based manufacturer.
The chief executive officer of Exor, John Elkann, a prominent member of the Agnelli family, also serves as Ferrari’s chairman. Piero Ferrari holds the role of vice-chairman and sits on the board of directors as a non-executive member, further reinforcing the close connection between ownership, governance, and long-term vision.
What the agreement with Exor means for Ferrari
The partnership between Piero Ferrari and John Elkann is crucial because it strengthens the bond between the two and helps protect the overall value of the Maranello brand. From a financial standpoint, the renewed agreement represents a guarantee of continuity, and for the Scuderia Ferrari this is a factor that should not be underestimated. The discussion is largely about value, stability, and long-term credibility.
This applies both to the shareholder structure, at a time when Ferrari’s market and stock exchange figures have not been entirely convincing, and to Formula 1. On the sporting side, Ferrari is coming off a season that can be described as extremely disappointing, with only seven podium finishes and no race victories. In such a context, having a solid and unified ownership structure is seen as a key element in supporting future recovery and strategic decision-making.
The renewed agreement with Exor therefore sends a clear signal of confidence and commitment. It underlines Ferrari’s intention to safeguard its heritage, strengthen its governance, and create the conditions needed to rebuild competitiveness, both on the financial markets and on the Formula 1 grid.
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