Ferrari needs to innovate, no IPO in sight - exec

Newswire

MARANELLO, Italy, June 21 (Reuters) - Ferrari must be more innovative and is unlikely to sell shares to the public soon, Vice Chairman Piero Ferrari told reporters on Thursday at an event to mark the Italian luxury sports car maker's 60th anniversary. "It's important that Ferrari doesn't keep replicating itself," said Ferrari, who is the son of founder Enzo Ferrari and owns 10 percent of the company. "We're working on various new models," Ferrari said. "I don't want to give any surprises ...

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