Ferraris unveils new leadership structure as it embraces electrification

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Ferraris unveils new leadership structure as it embraces electrification

Monza, Italy -- September 12, 2021 Ferrari CEO Benedetto Vigna and team principal Mattia Binotto are seen in protective face masks on the grid before race REUTERS Jennifer Lorenzini File Photo

MILAN, Jan 10, Reuters -- Ferrari RACE.MI on Monday unveiled a new organisation and leadership changes to help it streamline processes, in the first major move by the sportscar maker's new chief executive as the company embraces electrification.

Benedetto Vigna, a tech industry veteran and former top executive at chip maker STMicroelectronics STM.BN, took over the CEO role in September with the mission to drive Ferrari into a new era of cleaner, quieter and interconnected mobility.

More key operations segments will report directly to the CEO, including Product Development and Research Development Digital Data and Technologies Infrastructures, as part of the new structure, designed to sharpen Ferrari's technology focus and product exclusivity.

A source close to the matter said that it would allow Vigna to reduce intermediate layers of management, making the carmaker, known for its high-octane sportcars, faster and more agile.

As part of the overhaul, the company has hired Gianmaria Fulgenzi as chief product development officer, a position that was previously held by Ferrari since 2002 and recently head of the supply chain at its racing division.

Ernesto Lasalandra was hired from Vigna's former employer STMicro to be Ferrari's chief research and development officer.

Silvia Gabrielli, who joined Ferrari in 2019 from Microsoft MSFT.O, was appointed chief digital and data officer to ensure more data driven and digitally focused processes. Ferrari said in a statement that the organizational structure will help in innovation, optimise processes and increase collaboration both internally and with partners.

Angelo Pesci was hired from STMicro, where he has spent over 20 years working with financial planning, supply chain and product planning, services and operations. He was named chief purchasing and quality officer at the Italian company.

Bestinver analyst Andrea Trovarelli said in a report that Vigna hired two top executives from STMicro, suggesting that he was turning to trusted allies to help his turnaround and put the iconic manufacturer on course for electrification. Ferrari has confirmed that Mattia Binotto is the boss of its Formula One racing team.

As part of its internal shake-up, the company last month predicted that three top executives were leaving the company, including Chief Technology Officer Michael Leiters and Chief Brand Diversification Officer Nicola Boari, who oversaw Ferrari's push beyond its luxury sports car business, with the unveiling of its first in-house fashion collection in June. Ferrari said that Vigna will run the Brand Diversification function on an interim basis.

The source said Vigna strongly believed in Ferrari's brand strategy but wanted to oversee the way it is managed to make sure it can act with start-up mode before a long-term boss is appointed in the coming months.