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AutosFerrari appoints STMicroelectronics exec Benedetto Vigna as new CEO

Ferrari appoints STMicroelectronics exec Benedetto Vigna as new CEO

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A Ferrari is parked outdoors the New York Stock Exchange in celebration of Ferrari Automotive Company’s IPO on October 21, 2015 in New York City.

Andrew Burton | Getty Images

Ferrari has appointed electronics pioneer Benedetto Vigna as its new chief govt as the corporate gears up for the age of electrical automobiles.

Vigna will be part of Ferrari on Sept. 1 from semiconductor agency STMicroelectronics, the place he’s presently the top of its sensors group.

The Italian sportscar maker announced the appointment in a press release on Wednesday. It comes after former CEO Louis Camilleri stepped down for personal reasons in December after a reported battle with Covid-19.

Ferrari stated the 52-year-old Italian has expertise working for among the world’s main expertise firms. But 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 highly unexpected and, in our view, reflects the need to ‘reinvent’ Ferrari and the difficulty of securing candidates willing to take on the task,” Jefferies analyst Philippe Houchois stated in a be aware.

As a part of a sustainability push, carmakers around the globe are shifting away from inner combustion engines and towards electrical automobiles which are sometimes powered by lithium-ion batteries. European carmakers are presently enjoying catchup with Tesla, which has turn into a family title within the electrical automobile 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 University of Pisa with a level in physics. He began at STMicroelectronics in 1995 and helped the agency to turn into one of many leaders in movement sensors.

He was a part of the group that invented three-axis gyroscopes round 2010 that change the display ratio on a cellphone when it’s rotated, in accordance with The Financial Times.

John Elkann, chairman of Ferrari, stated in a press release that Vigna’s “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, in the exciting era ahead.”

Vigna stated in a press release that “it’s a special honor to be joining Ferrari as its CEO and I do so with an equal sense of excitement and responsibility.”

He added: “Excitement at the great opportunities that are there to be captured. And with a profound sense of responsibility towards the extraordinary achievements and capabilities of the men and women of Ferrari, to all the company’s stakeholders and to everyone around the world for whom Ferrari is such a unique passion.”

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