Technology industry master Benedetto Vigna was appointed as the new CEO of Ferrari, who will start on September 1. He’s succeeding Louis Camilleri, who announced his resignation from his role as Ferrari's CEO in December last year for personal reasons. Rumors suggested that the resignation must have been concerning the development of Ferrari’s first fully electric vehicle. However, the electrification of Ferrari means attracting a new generation of fans and buyers to the Italian icon, and this requires someone with the necessary experience to set out on the path of technological innovation for its electric powertrains.

On Wednesday, Ferrari shocked the tech community with this unexpected move; it’s the first time in recent history that a technologist has taken over the management of Ferrari. The 52-year-old Vigna currently runs the largest division of chip maker STMicroelectronics (ST), where he has worked since 1995 and helped develop screen technology used in early Apple iPhones.

In 2019, Ferrari launched its first production plug-in hybrid, the SF90 Stradale. This isn’t the only electrified project, as Ferrari aims for 60 percent hybridization by 2022 before revealing the first full-electric Ferrari in 2025. With more customers, across price segments and vehicle categories, becoming more aware of sustainable mobility, Ferrari must accelerate toward the world of electrification and the digital revolution in the auto industry, and Vigna appears to be the right candidate for this transition.

In a statement from Ferrari on Vigna's appointment, it 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,"

Vigna’s role is not only taking Ferrari further into the world of next-generation technology but also boosting Scuderia Ferrari, which competes in the Formula 1 championship. According to analysts, Vigna's appointment might raise market concerns about Ferrari’s future.