Ferrari appoints Benedetto Vigna as new CEO

Ferrari has named Benedetto Vigna as its new CEO, taking on the role that was left vacant when Louis Camilleri suddenly retired from the car company six months ago.

Ferrari Chairman John Elkann occupied the role temporarily but has now appointed Vigna, who will join the car company on September 1.

Vigna currently runs the biggest division of microchip maker STMicroelectronics.

The move has been seen as a nod towards the electrification of Ferrari's road cars in the future amid plans to bring an electric vehicle to market by 2025.

"We're delighted to welcome Benedetto Vigna as our new Ferrari CEO," Elkann said.

"His deep understanding of the technologies driving much of the change in our industry, and his proven innovation, business-building and leadership skills, will further strengthen Ferrari and its unique story of passion and performance, in the exciting era ahead."

Vigna joins the company as the Ferrari Formula One team recovers from a disastrous 2020 season and looks to capitalise on new regulations in 2022 to move back to the front of the grid.

"It's a special honour to be joining Ferrari as its CEO and I do so with an equal sense of excitement and responsibility," Vigna said.

"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."