Ferrari has announced new organizational changes to streamline processes and help it face the challenges of the future, including achieving carbon neutrality. It was the first major move by its new CEO, Benedetto Vigna, hinting at the path he plans to take the company down.
Vigna came to the company from European maker of STMicroelectronics technology chips and took over the role in September to usher Ferrari into a new era of mobility.
Reuters reported that the new mission aims to strengthen Ferrari's focus on technology and product exclusivity. To achieve this, more key business units will report directly to Vigna, reducing the intermediate management hierarchy and enabling more flexible work.
As part of the reforms, Vigna has hired two executives from his former employer, STM. Ernesto Lasalandra will be the automaker's chief R&D officer, while Angelo Pesci's appointment as chief procurement and quality officer suggests the CEO is turning to his trusted allies to lead his company's transformation.
It's not all new blood, though. Vigna has also appointed at least one new executive from within Ferrari, Gianmaria Fulgenzi, who has been with Ferrari since 2002 and recently led the supply chain division of its racing division, to become its new chief product development officer.
Ferrari's Formula 1 team will continue to be led by Mattia Binotto, an engineer who has been with Ferrari since 1995 and has led the team since he succeeded Maurizio Arrivabene in 2019.
Ferrari expects a number of people to leave the company with this adjustment, including chief technology officer Michael Leiters and chief brand diversity officer Nicola Boari, who oversaw the creation of the automaker's in-house fashion brand in June.
The division will now be temporarily managed by Vigna himself, with sources saying that Vigna is a firm believer in Ferrari's brand strategy but wants to oversee how it is managed to ensure it and the entire company operate more effectively.
Ferrari said in a statement: "The new organizational structure will further promote innovation, optimize processes and strengthen internal and partner cooperation, which will launch its first pure electric model in 2025 and plan to achieve carbon neutrality by 2030".