Analysts feel Benedetto Vigna is a wise choice for Ferrari. Industry analysts seem to think it's a wise choice.

At the end of last year, Louis Camilleri officially confirmed in a shock move that he was leaving Ferrari and retiring with immediate effect, stating unspecified personal reasons. During the next few months, it was not clear who would replace Louis Camilleri as Ferrari CEO, a difficult situatation which must have been concerning for the Italian marque considering that it is currently developing its first fully electric vehicle, after the launch of hybrids like the SF90 Stradale.

Such a difficult transition needs someone with the necessary experience and knowledge at the helm. The positive aspect is that Ferrari seems to have found the man the company needed. Technology industry veteran Benedetto Vigna has officially been appointed as the company’s new CEO and will begin his tenure at Ferrari in September.

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.”

At the same time, Benedetto Vigna will be tasked not only with guiding Ferrari further into the electrification era but also to boost its Formula One performance, which has suffered after former Chairman and CEO of Ferrari Sergio Marchionne has passed away in 2018. Some analysts expect Benedetto Vigna’s appointment to mitigate market concerns about the brand’s future.