Ferrari comes to aid of local communities

In response to the healthcare crisis caused by the COVID-19 pandemic, Ferrari has agreed to donate all or part of their annual compensation to fund a series of initiatives in the region concentrating on the immediate communities of Maranello, Fiorano and Formigine.

The company will aid the different towns including initiatives, which were coordinated directly with the local authorities.

The first few initiatives made for their local healthcare were purchasing of COVID-19 test kits and diagnostic equipment for three local healthcare institutions and donating an emergency medical service vehicle for the volunteers.

Initiatives made for the local community includes the purchasing of IT equipment for schools and contribution of food vouchers and essential goods in Maranello for struggling families. IT equipment will allow primary and secondary schools in the three towns to provide efficient participation in online lessons. All of the IT equipment will
remain with the schools post virus.

Further initiatives will be confirmed in the region over the coming weeks. The overall fund generated almost $3.1 million and was generated thanks to the Chairman, the CEO and Board of Directors pledging their full compensation from April to the end of 2020, with the Senior Management Team donating 25% of their salaries for the same period.