Vasseur’s Ferrari Contract Extended After Transformative Period

Ferrari CEO Benedetto Vigna announced Thursday that Fred Vasseur’s contract as Formula One team principal has been extended, effectively ending speculation surrounding the Frenchman’s future with the Scuderia.

Vasseur, who assumed leadership of Ferrari’s Formula One team in 2023, has been instrumental during a period of significant change. This includes the prominent signing of seven-time world champion Lewis Hamilton, who is leaving Mercedes.

In a statement issued ahead of the Hungarian Grand Prix this weekend, Vigna lauded Vasseur’s leadership abilities and reiterated the team’s faith in his strategic vision.

“Today we aim to acknowledge the progress achieved and dedicate ourselves to future accomplishments,” Vigna stated.

“This decision demonstrates our confidence in Fred’s direction, a confidence built upon shared goals, common expectations, and clearly defined responsibilities.”

Vigna further noted that Ferrari has precisely defined its objectives and Vasseur’s contribution towards achieving them, highlighting the importance of stability as they pursue success in Formula One.

In response to the contract renewal, Vasseur conveyed his appreciation and resolve to fulfill Ferrari’s objectives.

“I am thankful for the continued confidence Ferrari has in me. This extension is not merely an affirmation, but also a challenge to continue improving, remain focused, and deliver results,” he commented.

He further emphasized the advancements made under his guidance and the necessity of sustaining this positive trajectory.

“Over the last 30 months, we have established a solid base, and now we must build upon it with both consistency and resolve. We are aware of what is expected, and we are all fully dedicated to taking the next step forward together,” Vasseur concluded.