Ferrari appoints Benedetto Vigna as its new CEO


June 9, 2021Updated: June 9, 2021 9:45 a.m.

The Ferrari logo displayed on a tire at the automaker’s plant in Maranello, Italy, on May 8, 2013. (AP Photo / Marco Vasini, File)Marco Vasini / AP

MILAN, Italy (AP) – Luxury sports car company Ferrari has named Benedetto Vigna, an Italian executive at Europe’s largest semiconductor maker, as its new CEO, the company announced Wednesday.

Vigna, 52, will join Ferrari in September from Geneva-based STMicroelectronics, where he has worked for 26 years, most recently in the microelectromechanical sensors and systems department.

The appointment signals Ferrari’s focus on new technologies shaping an automotive world in transition, as the use of electric vehicles, autonomous driving and in-car connectivity grows. Ferrari has announced that its first fully electric supercar will be launched in 2025.

The automaker said that Vigna’s knowledge of the semiconductor industry “will accelerate Ferrari’s ability to pioneer the application of next-generation technologies.”

Vigna will be the company’s third CEO in three years, following the resignation in December of Louis Camilleri after suffering from COVID-19 and the death of Sergio Marchionne in July 2018. President John Elkann led the city-based company from Maranello, in northern Italy, on a provisional basis.

Elkann praised Vigna’s “deep understanding of the technologies that drive much of the change in our industry … his proven innovation, business development and leadership skills.”

Like the rest of the auto industry, Ferrari has been hit by the coronavirus pandemic, which temporarily shut down production in spring 2020. The company announced last month that it will not meet financial targets for 2022 due to the impact of the pandemic.

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