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July 3, 2020

Ferrari Recognized for Eliminating Gender Pay Gap

Ferrari has been awarded the Equal Salary Certificate for providing equal pay to men and women with the same qualifications and positions in the company. This accreditation attests to Ferrari’s commitment to creating an inclusive and diverse working environment while fostering career development for all.

The certification was granted by the Swiss-based Equal Salary Foundation and entailed an eight month long comprehensive study by the international audit firm, PwC, using a methodology recognized by the European Commission. Ferrari is the first Italian Company to receive this specific certification. The certification process included a detailed statistical analysis of compensation levels which revealed that the Prancing Horse is one of Europe’s companies successfully eliminating the gender pay gap. In addition, a survey of Ferrari’s management and human resources development policies was carried out. Employees were asked to complete anonymous surveys and participate in one to one interviews and focus groups to discuss their perception of the Company’s culture and commitment to inclusion and diversity.

Louis Camilleri, Ferrari’s CEO, stated: “We are all proud to receive this certification, which represents an important milestone in our ongoing journey to continuously improve our standing and actions with regard to a diverse and inclusive work environment. Equality of treatment and opportunity is not simply about the essential principle of equity. It is a fundamental pillar to attract, retain and develop the finest talents to foster innovation and our long-term growth”.

Equal Salary Certification is another milestone on a journey that has seen women play an increasingly prominent role within the Company. From 2016 to 2019, in particular, Ferrari’s female employees increased from 11.5 to 14 percent of the 4,285-strong workforce (as of December 31, 2019). Women have gradually taken on more and more responsibility and positions of increasing importance within the Company over this time.

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