Industry analysts seem to think it's a wise choice.
In December last year, Louis Camilleri announced his immediate resignation from his role as Ferrari's CEO, citing unspecified personal reasons. For a few months, it hadn't been clear who Camilleri's successor would be. This must have been concerning for the Italian marque considering that it is currently developing its first fully electric vehicle, following the launch of hybrids like the SF90 Stradale. A transition this drastic requires someone with the necessary experience at the helm. The good news is that Ferrari seems to have found such a candidate. Technology industry veteran Benedetto Vigna has officially been appointed as the company's new CEO. Vigna will begin his tenure at Ferrari on September 1.
Currently, he works at semiconductor producer STMicroelectronics (ST) where he is the President of its Analog, MEMS (Micro-electromechanical Systems) and Sensors Group. This was ST's most profitable and largest operating business last year.
52-year-old Vigna graduated cum laude in physics from the University of Pisa before joining ST in 1995. According to Reuters, Vigna's business division has seen ST infiltrate the environmental and automotive industries.
A statement from Ferrari on Vigna's appointment said: "His unique knowledge gained over 26 years working at the heart of the semiconductor industry that is rapidly transforming the automotive sector, will accelerate Ferrari's ability to pioneer the application of next generation technologies."
"It's a special honor to be joining Ferrari as its CEO and I do so with an equal sense of excitement and responsibility," said Vigna. "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."
Vigna will be tasked not only with guiding Ferrari further into the electrification era but also to boost its Formula One performance. Some analysts expect Vigna's appointment to mitigate market concerns about the brand's future.