On Monday, Ferrari’s new chief executive announced the company’s decision to change its organizational and leadership structure to emphasize technology and product exclusivity as it embraces electrification.
In September, Benedetto Vigna, a tech industry veteran and former top executive at chip maker STMicroelectronics (STM.BN), assumed Ferrari’s CEO role, charged with driving the company into a new era of better, quieter, and more interconnected mobility.
In a statement, Ferrari said, “Product Development and Research & Development,” “Digital & Data,” and “Technologies & Infrastructures” are among the functions that will now report directly to the CEO.
According to the company, Gianmaria Fulgenzi, who has been with Ferrari since 2002 and most recently served as head of supply chain for the racing division, has been named chief product development officer as part of the overhaul. STMicro, Vigna’s former company, appointed Ernesto Lasalandra to be Ferrari’s chief research and development officer.
Silvia Gabrielli, a former Microsoft executive who joined Ferrari in 2019, was named as the chief digital and data officer to accelerate “the digital transformation process throughout the organization, assuring more data-driven and digitally focused procedures.”
Angelo Pesci was also hired by Ferrari from STMicro, where he worked for more than 20 years in financial planning, supply chain and product planning, services, and operations. He will be assuming the role of chief purchasing and quality officer in the Italian outfit.
Vigna’s choice to appoint two top executives from STMicroelectronics, according to Bestinver analyst Andrea Trovarelli, indicated that the CEO was looking to reliable partners to aid his turnaround and to put the legendary company on course for electrification.
Ferrari also announced Mattia Binotto will continue heading its Formula 1 team. This comes as the team announced last month that it was overhauling up its leadership structure, with three prominent executives leaving the business, in one of Vigna’s first major moves.
Michael Leiters who is the Chief Technology Officer, and Nicola Boari, the Chief Brand Diversification Officer, managed Ferrari’s expansion beyond its luxury sports car sector, with the launch of its first in-house fashion collection in June. Vigna will take up the “Brand Diversification” duty on an interim basis.