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Ferrari unveils new organisation and top team to face electrification challenge -Breaking

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© Reuters. FILE PHOTO – Monza, Italy – September 12, 2021 Ferrari CEO Benetto Vigna (right) and Mattia Binotto, team principal are seen wearing protective masks before entering the grid. REUTERS/Jennifer Lorenzini/File photo

MILAN, (Reuters) –Ferrari’s new chief executive unveiled Monday a new organization and leadership changes. These are intended to sharpen its technology focus as well as product exclusivity.

Benedetto Vigna is a veteran of the tech industry and was previously a top executive at STMicroelectronics (BN) in the chip manufacturing sector. He assumed the role as CEO with the task to lead Ferrari (NYSE: ) into a new age of clean, quiet, and interconnected mobility.

Functions including “Product Development and Research & Development”, “Digital & Data” and “Technologies & Infrastructures” will now directly report to the CEO, Ferrari said in a statement.

It announced that Gianmaria Fulgenzi, who has been with Ferrari since 2002, and was previously head of supply chain for its racing division, will be the chief product development officer as part of the restructuring.

Ernesto Lasalandra, Ferrari’s chief researcher and developer officer was recruited from Vigna’s previous employer STMicro.

Silvia Gabrielli (Microsoft NASDAQ:) joined Ferrari in 2019, and was made chief digital and information officer. She aims to increase “the company’s digital transformation” and make it more data-driven, digitally focused.

Ferrari released a statement saying that “the new organizational structure will further foster innovations, optimize processes and increase collaboration both internal and externally.”

Angelo Pesci, a STMicro employee, was also recruited by Ferrari. He has worked with operations, financial planning and supply chain for over twenty years. The Italian firm appointed him chief purchasing and quality officers.

Andrea Trovarelli, a Bestinver analyst said that Vigna’s hiring of two executives from STMicroelectronics suggests the CEO is “turning towards trusted allies to help his turnaround and put the iconic manufacturer back on the right track for electrification.”

Ferrari confirmed Mattia Bioloto to lead its Formula One Racing Team, the company said.

Ferrari announced last month that it would be changing its leadership structure with three of the top managers leaving. This was one Vigna’s initial major move.

They included Michael Leiters Chief Technology Officer and Nicola Boari who managed Ferrari’s move beyond the luxury sports cars business. In June, Ferrari unveiled its first-ever in-house fashion collection.

Ferrari announced that Vigna will temporarily run “Brand Diversification”, but Ferrari did not confirm this.

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