The boss of luxury carmaker Ferrari is stepping down for "personal reasons" after less than two years in the role. Louis Camilleri is leaving the company with immediate effect just ahead of the Abu Dhabi Grand Prix this weekend. Mr Camilleri was hospitalized this year due to Covid-19 but he has been recovering and Bloomberg reports this is not the reason for his departure. He has also stepped down as chairman of Philip Morris, also with immediate effect and for personal reasons. Prior to joining Ferrari, Mr Camilleri had worked in the tobacco industry for a number of years. He took over as Ferrari's chief executive in July 2018 from Sergio Marchionne who left due to illness and died shortly afterwards.