Ferrari appoints STMicroelectronics exec Benedetto Vigna as new CEO
Vigna will be a part of Ferrari on Sept. 1 from semiconductor agency STMicroelectronics, the place he’s presently the pinnacle of its sensors group.
The Italian sportscar maker introduced the appointment in an announcement on Wednesday. It comes after former CEO Louis Camilleri stepped down for private causes in December after a reported battle with Covid-19.
Ferrari mentioned the 52-year-old Italian has expertise working for a number of the world’s main know-how firms. However his appointment has come as a shock to many given he has not beforehand labored for an automotive firm or a luxurious model.
“The appointment is very sudden and, in our view, displays the necessity to ‘reinvent’ Ferrari and the issue of securing candidates keen to tackle the duty,” Jefferies analyst Philippe Houchois mentioned in a observe.
As a part of a sustainability push, carmakers world wide are shifting away from inside combustion engines and towards electrical autos which are sometimes powered by lithium-ion batteries. European carmakers are presently taking part in catchup with Tesla, which has change into a family identify within the electrical car market.
The unit that Vigna presently heads up has related revenues to Ferrari as a complete and was the corporate’s most worthwhile working division final 12 months.
Vigna graduated from the College of Pisa with a level in physics. He began at STMicroelectronics in 1995 and helped the agency to change into one of many leaders in movement sensors.
He was a part of the crew that invented three-axis gyroscopes round 2010 that change the display ratio on a cellphone when it’s rotated, in line with The Monetary Occasions.
John Elkann, chairman of Ferrari, mentioned in an announcement that Vigna’s “deep understanding of the applied sciences driving a lot of the change in our business, and his confirmed innovation, business-building and management expertise, will additional strengthen Ferrari and its distinctive story of ardour and efficiency, within the thrilling period forward.”
Vigna mentioned in an announcement that “it is a particular honor to be becoming a member of Ferrari as its CEO and I accomplish that with an equal sense of pleasure and accountability.”
He added: “Pleasure on the nice alternatives which are there to be captured. And with a profound sense of accountability in direction of the extraordinary achievements and capabilities of the women and men of Ferrari, to all the corporate’s stakeholders and to everybody world wide for whom Ferrari is such a singular ardour.”