What Ferrari’s surprising hiring from tech world means for its Formula 1 team. What Ferrari's surprising hiring from tech world means for its F1 team.

Last week ended with the official announcement of Ferrari regarding the arrival of the new CEO Benedetto Vigna, who will take over the role at Ferrari from September 1, 2021, with former CEO Louis Camilleri having departed in December last year.

Benedetto Vigna serves as President, Analog, MEMS and Sensors Group, Member of the Executive Committee of the Company. John Elkann took six months to complete the evaluation for the new CEo role and officially announce who will be in charge of helping to hold the reins of the Prancing Horse, occupying a position of strategic importance to say the least. Dieter Rencken of Racefans.net tried to deduce what the message launched by President John Elkann could be through the appointment of a profile such as that of Benedetto Vigna and the possible consequences for the future of the Scuderia in Formula 1. Here are some excerpts:

“Vigna’s recruitment is highly significant on two fronts: he was clearly appointed to lead Ferrari, once the most mechanical engineering-led of all auto brands, into an increasingly electric future. Moreover, with no hint of any motorsport involvement or interest in his CV, it suggests that Vigna is unlikely to involve himself much in the F1 operation beyond normal business matters such a budgets, revenues and return on investment […] should Vigna take Ferrari down the purely electric route – his head is clearly where the current flows – what then for the Scuderia? F1 is Ferrari’s primary marketing platform – the brand struts its stuff on racetracks in lieu of traditional advertising programmes – and the championship is expected to remain committed to hybrids for the foreseeable future. Could the unthinkable occur, and Ferrari eventually dump F1 and go to Formula E? That is not beyond the bounds of possibility given that the Concorde Agreement expires at the end of 2025. By definition DNA is about evolution, and Ferrari has evolved from being a maker of sports cars that existed purely to finance the founder’s racing ambitions to a fully-fledged (limited) volume hi-tech luxury brand. Could electricity be Ferrari’s next helix strand? […] Ferrari is accountable to its shareholders and not to F1 nor to the tifosi. If going electric on road and track enhances its bottom line while maintaining an aura of mystique and luxury, then Elkann and Vigna will not hesitate to go down that route. Any deviation from the optimum path to sustained profitability will not be in the shareholders best interests. The Scuderia as we know it could ultimately be collateral damage.”