Ferrari turns to technology industry for its electric era leader

Ferrari has turned to technology industry veteran Benedetto Vigna to drive the luxury sports car maker known for its roaring, high-octane engines into a new era of silent, electric powertrains.
 
Vigna, a 52-year-old Italian and physics graduate, currently runs the biggest division of chip maker STMicroelectronics (ST) , where he has worked since 1995 and helped pioneer screen technology used in early Apple iPhones.
 
Vigna’s appointment shows Ferrari’s development strategy remains firmly anchored in making cutting-edge, high-end cars in an electric future, rather than repositioning itself towards pure luxury.
 

“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,” the company said on Wednesday.

 
With cars starting at over ^200,000 ($244,000), investors often look at Ferrari as more of a luxury firm than automotive specialist and there had been some speculation its new CEO might come from the world of premium consumer goods.
 
Vigna's appointment fills a six-month vacancy at the helm of after former Chief Executive Louis Camilleri retired nearly two and a half years into the job in December for personal reasons.
 
Chairman John Elkann, the scion of Agnelli family which controls Ferrari through its investment firm Exor, said in a statement that the company was delighted to welcome a technology industry leader aboard.

 
“His 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,” he said.