Ferrari turns to tech for an electric era chief executive

Wed, 2021-06-09 23:20

MILAN: Ferrari has turned to technology industry leader Benedetto Vigna to navigate the luxury sports car maker known for its roaring, high-octane engines through a new era of silent, electric powertrains.

Vigna, a 52-year-old Italian national, currently runs the biggest division of chipmaker STMicroelectronics (ST), where he has worked since 1995 and helped pioneer screen technology used in early Apple iPhones.

His appointment fills a six-month vacancy at the helm of the luxury carmaker after former Chief Executive Louis Camilleri retired nearly two-and-a-half years into the job in December citing personal reasons.

Chairman John Elkann, the scion of the Agnelli family which controls Ferrari through its investment firm Exor, said in a statement that the company was delighted to welcome a technology industry leader aboard.

“His deep understanding of the technologies driving much of the change in our industry, and his proven innovation, business-building, and leadership skills, will further strengthen Ferrari and its unique story of passion and performance,” he said.

Ferrari, which already offers hybrid models, has promised to deliver its first electric car by 2025.

Pietro Solidro, an analyst at Bestinver said Vigna’s appointment should reduce market concerns about Ferrari’s future and its path toward its first electric vehicle.

“We believe that he will be able to further accelerate Ferrari’s ability to remain ahead of the curve in next-gen technologies compared to the automotive sector,” Solidoro said.

Vigna is currently president of ST’s Analog, Micro-electromechanical Systems and Sensors group, its largest and most profitable operating business in 2020. He will leave on Aug. 31, the chipmaker said in a statement.

He will start at Ferrari the next day.

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Benedetto Vigna

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