John Abbott, 56, is a director and member of the exec committee of Royal Dutch Shell, where he has worked since '81, "mostly in global manufacturing and supply, trading and distribution," according to Brad Spurgeon of the N.Y. TIMES. Last year he oversaw the signing of "a major partnership deal" between Shell and the Ferrari Formula 1 team. Excerpts from a Q&A are below:
Q: Shell and Ferrari have a partnership deal. Ferrari has not won any Formula 1 races this year, and has not won a title for many years. How important is winning for this partnership?
A: Winning is important. Let’s be honest that we are here to sell fuels and lubricants and the reality is we will sell more fuels and lubricants if Ferrari wins. Ferrari has a fantastic brand. And I also believe that Shell has a very strong brand. So we have two very strong brands together. And Ferrari has a strong brand which is driven through its vehicles; but it has also very much driven that brand image by winning on the racetrack. So people will stick to the brand, but if they don’t win, there is a risk that over a period of time the value of that brand diminishes.
Q: In terms of the larger picture of Formula 1 as a series, how, as a top exec in a multinational company, do you see the series globally? It sometimes has image problems.
A: Obviously our main affiliation is with Ferrari, and the Ferrari brand, and Ferrari products. If you come to Formula 1 per se, I think there are some questions about the business model that is being applied today. Let’s accept and acknowledge that it was very successful in the past, but what made you successful in the past isn’t necessarily going to make you successful in the future. ... If I were running Formula 1 -- which I’m not -- I would have to be asking myself: How should we reposition this sport, to A) maintain the viewers and the affiliation with the sport, and B) are we doing the right things to position it? (N.Y. TIMES, 9/15).
