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.
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Ferrari has appointed electronics pioneer Benedetto Vigna as its new chief govt as the corporate gears up for the age of electrical autos.
Vigna will be a part of Ferrari on Sept. 1 from semiconductor agency STMicroelectronics, the place he’s at present the pinnacle 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 a number of the world’s main expertise corporations. 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 notice.
As a part of a sustainability push, carmakers all over the world are transferring away from inside combustion engines and towards electrical autos which might be usually powered by lithium-ion batteries. European carmakers are at present taking part in catchup with Tesla, which has change into a family title within the electrical car market.
The unit that Vigna at present heads up has comparable revenues to Ferrari as an entire and was the corporate’s most worthwhile working division final yr.
Vigna graduated from the University 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 group that invented three-axis gyroscopes round 2010 that change the display screen ratio on a telephone when it’s rotated, in response to 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.”
