Apple’s Eddy Cue joins Ferrari board of directors

The Ferrari board of directors met today under the chairmanship of Luca di Montezemolo to examine the company’s financial results for the first nine months of 2012.

As of September 30th, Ferrari has recorded unprecedented revenues of 1,764 million euro (+10 per cent) and numbers of cars delivered to the dealership network 5,267 (+6 per cent). Trading profits increased by 9.6 per cent to 232.8 million euro, while net profits grew 7.6 per cent to 152.4 million.

The company’s industrial net cash position reached almost 1 billion euro – an all-time record figure of 959 million euro – despite continuing commitment to maintaining an extremely high level of investment in product development. Ferrari also chalked up a net cash flow of 251 million euro in the first nine months of the year.

“These results confirm Ferrari’s excellent performance in practically all of the 60 nations in which it is present despite the continuing economic climate. Once again the exception is Italy where we have witnessed a drop partly due to the economic crisis, but also to a hostile environment for luxury goods which have long been, and continue to be, an important resource for the country,” said Luca di Montezemolo who then announced the addition of a new Ferrari board member. “I am delighted that Eddy Cue, one of the main driving forces behind Apple’s range of revolutionary products, has now joined our board. His huge experience in the dynamic, innovative world of the Internet will be of great assistance to us.”

Eddie Cue is Apple’s Senior Vice President Internet Software and Services and oversees Apple’s industry-leading content stores including the iTunes Store, the revolutionary App Store and the iBookstore, as well as Siri, Maps, iAd and Apple’s innovative iCloud services. He is a 23-year Apple veteran and played a major role in creating the Apple online store in 1998, the iTunes Music Store in 2003 and the App Store in 2008. He earned a bachelor’s degree in Computer Science and Economics at Duke University.

“I am pleased and proud to become a member of the board. I have personally dreamed of owning a Ferrari since I was 8 years old and have been lucky to be an owner for the past 5 years. I continue to be awed by the world-class design and engineering that only Ferrari can do” said Eddie Cue in a statement, commenting on his nomination to the board.

Source: Ferrari S.p.A.


    1. The UK IS the sports car capital of the world – I own two of them. But when I see the plain design of the McClaren street car … I would much prefer a Ferrari any day of the week.

  1. For his design genius, Steve Ballmer was asked to join the Fisker Karma board of directors so he can set the Surface on fire unintentionally while sitting there doing nothing.

    And if Microsoft fails in the interim, he can always ask the Black Jesus for a government assisted bailout.

  2. Wonder if he gets a free car? I guess this is great news but they only make so many Ferraris so really who cares? Nice deal with large automobile manufacturers would be worthy of headlines. But hey, at least it’s not bad news which it seems is the only news Apple can get anymore. I know everybody tries to knock the guy who’s on top off the mountain but this is getting ridiculous. Enough already, somebody needs to drum up some good PR for Apple. Seems to me that by now that’s exactly what Apple should be doing. Maybe they are and it’s just not getting out there? Let’s face it, Apple has more money than the US mint so they should be able to flood the media with pro-Apple stories. Real stores not bullshit like Google. There are certainly enough in the media and even some analysts who are having a field day knocking Apple right now. Apple needs take some of that huge pile of money and enlarge their PR staff. Fight all these negative Apple stories before the stock drops another 100 points. Instead of letting the media point out how Apple isn’t meeting demand for their products turn the story around and brag about not being able to meet the demand. Inability to meet the demand is the only real problem with Apple but perception is everything. Make the public and investors realize that Apple is probably the only company out there who has that type of a problem. Wouldn’t Ford love to have that problem? Sure, all companies would love to have that problem. Apple needs to get off their ass and start promoting more.

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