Ferrari: New boss chosen from the tech world

  •   02/07/2021 - 07h57
  •   DEHOUI Lionel

Ferrari Group has had a more or less good first quarter of 2021 with several growth indicators up. Net profit, Ebitda, accompanying margin and sales all came out growing. But despite this good performance, the group has had to find a new boss as the former boss has been promoted and will take up another position.

72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This is an advert for trading CFDs on Plus500
Ferrari: New boss chosen from the tech world

A boss to lead Ferrari's electrification strategy

In the search for its new boss, the Ferrari group had to properly scour the technology sector to unearth the right profile. In fact, it expects to find someone who can support the efforts of its electrification strategy. With this in mind, he has hired Benedetto Vigna, a 52-year-old who was previously with STMicroelectronics.

The Italian car manufacturer Ferrari specialises in the design of luxury vehicles on the market. The appointment comes as the group is considering a new portfolio for the former president of its largest business unit. He would be well positioned to become the chipmaker's new chief executive.


Ferrari owners satisfied with recruit's profile

In concrete terms, the appointment of Benedetto Vigna puts an end to a vacancy at the head of the luxury car manufacturer group. This period lasted 6 months and is explained by the resignation of the former director Louis Camilleri in December 2020. The latter is stepping down for personal reasons after having served in this position for a period of about two and a half years.

The Italian luxury car group, Ferrari, is controlled by the Agnelli family. Their descendant John Elkann is the current chairman. The family exercises its control over the manufacturer through its investment company Exor. The latter does not hide its satisfaction with the welcome of Benedetto Vigna as the new managing director.

The man has a perfect understanding of the technologies responsible for most of the developments in the automotive industry. He also has a strong background in possible innovations and start-ups.

Note: Vigna is a true leader. With all his strengths, the new CEO will ensure a better fit between the group and its exceptional history of performance and passion.


Benedetto Vigna officially takes office at Ferrari

Ferrari is currently entering a particularly exciting era. The Italian manufacturer's objectives are progressing well. The group is already bringing hybrid cars to market. Its first fully electric vehicle will be launched by 2023.

Since Camilleri's resignation, the interim head of the company has been taken care of by Elkann, who had been looking for a typical profile since April. All the necessary qualities and especially the technological skills should define the new director. This was an important and decisive point in the choice of the new director.

In the meantime, Benedetto Vigna was proving himself at STMicroelectronics, and above all on the Board of Directors of the "Analog, Sensors and Microelectromechanical Systems" division. He will take up his new position with the Ferrari team on September 1, 2021. The businessman will leave STMicroelectronics for this purpose at the end of August, even though he is a member of the company's executive committee.