Company Directory - Ferrari S.p.A.
Company Details - Ferrari S.p.A.
Ferrari S.p.A.
WebsiteMaranello, Italy
ISIN: NL0010242062
Ferrari designs, engineers, and manufactures luxury sports cars known for their high performance, distinctive styling, and a rich heritage in racing. The brand is synonymous with luxury, precision engineering, and motorsport success.
CCI Score
CCI Score: Ferrari S.p.A.
38.43
-0.02%
Latest Event
Ferrari Renews Collective Labor Agreement 2023-2026
Ferrari has renewed its company-specific collective labor agreement with major trade unions in Italy, ensuring significant salary increases and enhanced worker representation for the period 2023-2026. This move is a positive indicator of the company's commitment to fair labor practices.
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DISSENTER
Ferrari S.p.A. is currently rated as a Dissenter.
Latest Events
- MAR082023
Ferrari has renewed its company-specific collective labor agreement with major trade unions in Italy, ensuring significant salary increases and enhanced worker representation for the period 2023-2026. This move is a positive indicator of the company's commitment to fair labor practices.
+80
Labor Relations and Human Rights Practices
March 27
The renewal of the labor agreement, which includes over 11% salary increases in the initial two years and enhanced systems for worker representation, demonstrates Ferrari's strong commitment to upholding labor rights and fair working conditions. This positive labor relations development reduces worker exploitation and supports democratic trade union practices.
Ferrari renews the company-specific collective Labor Agreement (CCSL) for 2023-2026
- SEP162022
Ferrari Group approved a comprehensive Supplier Code of Conduct on 16 September 2022, outlining strict standards on labor practices, human rights, environmental responsibility, and anti-corruption measures for its suppliers. This move reinforces Ferrari's commitment to ethical business practices within its global supply chain.
+80
Labor Relations and Human Rights Practices
March 27
The approved Supplier Code of Conduct mandates strict adherence to fair labor practices, explicitly prohibiting forced labor, child labor, bonded labor, and other forms of labor exploitation. This demonstrates a robust commitment to upholding human rights within Ferrari Group's supply chain.
+75
Supply Chain Ethics
March 27
The Code imposes rigorous ethical sourcing and supply chain requirements, ensuring that suppliers comply with environmental regulations and ethical business practices. This reduces the risk of complicity with human rights abuses and underscores Ferrari Group’s initiative to maintain a responsible supply chain.
- MAY122022
Ferrari outlines its Tax Strategy and Governance Model, emphasizing integrity, full compliance with tax laws, proactive engagement with tax authorities, and sustainable growth. The detailed approach underscores a commitment to ethical tax practices and transparency in financial reporting.
+90
Business Practices and Ethical Responsibility
March 27
Ferrari demonstrates a strong commitment to ethical business practices and corporate responsibility through its comprehensive Tax Strategy. The strategy, approved by the Board and inspired by the Company’s Code of Conduct, emphasizes full compliance with tax laws, transparent disclosure, and proactive engagement with tax authorities. This approach supports responsible governance and contributes positively by ensuring that tax practices align with ethical standards, thereby reducing any risk of regulatory capture or misuse of corporate power.
- FEB252021
Ferrari's recently published Human Rights Practice document outlines robust policies to eliminate forced labor, ensure fair labor practices, promote diversity, and enforce strict ethical standards across its supply chain. This comprehensive approach indicates a strong commitment to upholding labor rights and supply chain ethics.
+90
Labor Relations and Human Rights Practices
March 27
The document details a thorough commitment to upholding labor rights, including the elimination of forced and child labor, promotion of non-discrimination, fair wages, safe working conditions, and respect for unionization rights. Such robust policies contribute positively to labor relations and human rights practices.
+90
Supply Chain Ethics
March 27
Ferrari demonstrates clear due diligence and ethical sourcing practices through its detailed supply chain guidelines. The document specifies that suppliers must adhere to strict human rights and ethical standards, with continuous monitoring and due diligence, reflecting a strong stance on supply chain ethics.
- FEB032020
The article highlights how Ferrari profits from political ties in F1 by receiving significantly higher payments and engaging in orchestrated media narratives, reflecting a troubling blend of corporate strategy and political favoritism that undermines fair competition.
-40
Public and Political Behavior
March 27
Ferrari's alignment with political dynamics in Formula 1—receiving an extra $100 million simply for participation—and the deliberate use of media narratives to deflect criticism exemplify problematic political maneuvering. This reliance on political favoritism undermines the integrity of competition and reflects a troubling corporate behavior.
Ferrari, The Team That Benefits Most From F1 Politics, Claims That Politics Are Its Weakness
-30
Economic and Structural Influence
March 27
The economic structure of Formula 1, which grants Ferrari significantly higher payments relative to competitors, indicates systemic favoritism and economic collaboration with regulatory frameworks. This structural influence not only skews fair competition but also reinforces the nexus between corporate power and political advantage.
Ferrari, The Team That Benefits Most From F1 Politics, Claims That Politics Are Its Weakness
- SEP272019
Ferrari and the unions have reached a landmark agreement covering the years 2020-2023 that increases competitiveness bonuses for employees, along with enhanced training and sustainability initiatives. This agreement represents a positive development in labor relations and strengthens employee welfare.
+80
Labor Relations and Human Rights Practices
March 27
The union agreement showcases a strong commitment to labor rights by securing substantial competitiveness bonuses and introducing training initiatives for employees. This improves worker compensation and professional development, aligning with best practices in labor relations and ethical responsibility. Such positive labor practices reduce the potential for authoritarian coercion in the workplace.
- SEP262019
In a move to enhance employee welfare, Ferrari has signed a new Performance bonus agreement with Italian trade unions, effective from 2020 to 2023. The agreement focuses on improved bonus structures, enhanced training modules, and broader employee benefits, reflecting a commitment to fair labor practices and worker rights.
+80
Labor Relations and Human Rights Practices
March 27
Ferrari's new Performance bonus agreement is a positive internal policy that reinforces commitment to labor rights and fair treatment of employees by securing better bonuses, comprehensive training, and health benefits. This initiative, forged in close collaboration with trade unions, not only improves workers' economic conditions but also promotes ethical labor practices, countering exploitative practices that could otherwise contribute to authoritarian business cultures.
- JAN312019
The article highlights Ferrari’s use of its political clout and advantageous economic positioning within Formula One. Securing an extra $100 million through the Concorde Agreement provides Ferrari with significant political leverage and reinforces elite structural power, raising concerns about the concentration of influence that may underpin authoritarian practices.
-30
Public and Political Behavior
March 27
Ferrari’s preferential treatment in the Concorde Agreement, which awards the company an extra $100 million based on its global brand and political standing, demonstrates significant political leverage. This maneuver underscores how elite corporate power can translate into undue influence in decision-making processes, potentially undermining democratic equity.
-20
Economic and Structural Influence
March 27
By securing an additional $100 million in revenue under favorable contractual conditions, Ferrari exploits economic structures that favor entrenched elites. This economic collusion not only reinforces systemic inequalities within the sport but also exemplifies how corporate benefits can be leveraged to maintain broader power imbalances.
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