good morning.
I got my first F1 experience in Las Vegas this past weekend, thanks to an invitation to moderate a series of conversations with HP CEO Enrique Lores, CEO attendees, and drivers. Scuderia Ferrari HP F1 team: Carlos Sainz Jr. and charles leclerctook 3rd and 4th place respectively. (When I asked Sainz and Leclerc to explain each other’s strengths, I felt Sainz was the smoother driver and Leclerc was more of a risk-taker, but it was hard to tell because they were talking to each other.)
Lores tells HP: Became the team’s title sponsor Ferrari’s F1 team has 1,600 people and measures success one thousandth of a second at a time. Ferrari is currently implementing some of HP’s technologies and services as part of the partnership. Lores said: “We both have brands with long histories of innovation.”
Of course, this has contributed to F1 becoming more popular with American audiences. Netflix seriesnew movies, expand F1 arcade franchise, celebrity There are also investors and crossover stars like Lewis Hamilton, who will replace Sainz at the Ferrari team next season. In addition to its drivers and cars being literal advertising posters for various brands, F1 is often a loss leader for automakers looking to wow elite customers.
Few companies are as famous as Ferrari. Ferrari sells the following cars: Could average $750,000 And there is a two-year waiting list to receive one. I recently spoke with Ferrari CEO Benedetto Vigna. He talked about the company as if he were talking about his family. Vigna likens Ferrari to “a compressed spring full of great energy” and “a team with passion, a sense of belonging, determination and grit.” Vigna added that while some customers are “enthusiastic about motorsport in places like the US, Italy, Germany, UK and Japan,” customers in South Korea and the Middle East are more attracted to luxury goods and lifestyle.
The same may be said of HP. HP is poised to take pole position in a rapidly changing future of work where people print less, but its AI computer could mean much more than that. When HP reports Part 4, its efforts on this front will become more apparent.th Tomorrow is quarterly financial results. And having a high-profile sponsorship of a fast-growing sport isn’t a bad thing. As Lores joked when he handed Sainz and Leclerc their two computers, he might not know their favorite songs, but he said, “I do know your new favorite computer.” ”
Please see the news below for more information.
diane brady
Diane.brady@fortune.com
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This issue of CEO Daily was edited by Joey Abrams.
