Ferrari has been without a CEO since December, but the company on Wednesday finally named Benedetto Vigna as its new chief.
He replaces Louis Camilleri who stepped down for personal reasons after just two years in the top role, and will give a major update on Ferrari's future plans during an investor presentation to be held in 2022.
Vigna, who starts at Ferrari on September 1, is currently head of the most profitable division at Switzerland-based STMicroelectronics, Europe's biggest semiconductor chip company. A physics graduate of the University of Pisa, Vigna first joined STMicroelectronics in 1995 where he eventually helped the company become a leader in the area of motion-activated user interfaces. He also oversaw areas of connectivity, imaging and power solutions and helped the company expand into automotive segments.
His experience working with some of the world's leading technology companies was one of the reasons he was hired to run Ferrari, which is about to enter a new era of electrification and connectivity that will see the company launch its first electric vehicle by the middle of the decade.
“(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,” John Elkann, chairman of Ferrari, said in a statement.
Ferrari has flip-flopped on the idea of launching an EV in the past but stricter emission rules and changing market trends have now convinced the automaker of the need for having one. The company has previously cited a lack of suitable battery technology as the main hurdle. Ferrari in April said its first EV, expected to be a crossover, will be unveiled in 2025.