Ferrari has chosen a pioneering electronics with no luxury experience as its CEO

Ferrari has named the chief electrical specialist, an amazing appointment that ends with the search that began when former chief Louis Camille left Covid-19 late last year.

The new Italian boss Benedetto Vigna is the head of STMicroelectronics ’sensor unit, the largest and most profitable division in the technology team. It will join the supercar manufacturer in September.

Vigna has been with STMicroelectronics since 1995, creating a division he heads, now the same size as Ferrari in terms of revenue and staff.

He specializes in motion sensors and was a member of the team that invented three-axis gyroscopes that change the screen ratio of a phone when it turns on.

The same technology that debuted on the iPhone 4 is common in most modern car navigation systems, with Vigna ST pushing it to supply a wide range of technologies to the car industry.

However, his appointment is unpredictable, with no experience in the automotive or luxury industries. Among the candidates for the post were several luxury directors.

“The appointment is very unexpected and, in our view, reflects the need to‘ reinvent ’Ferrari and the difficulty of securing candidates to fulfill their role,” said Jefferies auto analyst Philippe Houchois.

“That said, one should not underestimate the strategic thinking of Ferrari and Exor president John Elkann,” he said.

Exor-led Exor owns 36% of Ferrari’s voting rights, as well as 14% of Stellantis, a carmaker created this year by the merger of Fiat Chrysler and French PSA.

Elkann is famous for recognizing his talent when he chose the then-unknown Sergio Marchionne to run the almost-failed Fiat in 2004.

Over the next 14 years, Marchionne turned the business into a $ 200 billion empire, buying Chrysler and turning it into a separate business for Ferrari and CNH Industrials.

Speaking on Wednesday in the announcement, Elkann said Vigna “will have a deep understanding of the technologies that drive many changes in our industry and its proven innovation, business building and leadership skills, Ferrari and its unique passion and performance story. An exciting future.”

Vigna described his appointment as a “special honor” and “shares a deep sense of responsibility with the outstanding achievements and skills of Ferrari’s men and women, all the company’s agents and Ferrari around the world. A unique passion.”