Ferrari reorganizes itself with new area managers to be more agile. A new organizational structure was presented today, “consistent with the strategic objectives of enhancing the exclusivity of the brand, enriching product excellence, remaining faithful to its sporting DNA and focusing on carbon neutrality by 2030”, explained la Rossa.
“We want to push the boundaries further in all areas, using technology in a unique and Ferrari way”, said the CEO, Benedetto Vigna, specifying that the new organization “will improve our agility, essential to seize the opportunities of facing us in this rapidly changing scenario “. Getting to the heart of the new reorganization, the Product Development and Research & Development, Digital & Data, Technologies & Infrastructures, Purchasing & Quality, Internal Audit and Compliance areas will report directly to the ceo Vigna.
Therefore, Gianmaria Fulgenzi has been appointed Chief Product Development Officer, following a career in Ferrari that began in 2002 and in which he held various roles in product development, production and more recently in Sports Management, of which he was Head of Supply Chain. While Ernesto Lasalandra, appointed Chief Research & Development Officer, joins Ferrari from STMicroelectronics, of which he was Group VP R&D General Manager and where he has gained over 20 years of experience in the hi-tech sector.
Furthermore, Philippe Krief, who already works at Ferrari, will be its Deputy and will capitalize on over 35 years of experience in the automotive sector. Silvia Gabrielli, who has worked for Ferrari since 2019 and previously worked for Microsoft and other global players in the digital space, has been appointed Chief Digital & Data Officer. And again: Davide Abate, previously Head of Technologies and at Ferrari since 2012, has been appointed Chief Technologies & Infrastructures Officer.
Angelo Pesci has been appointed Chief Purchasing & Quality Officer, after over 20 years of experience in Financial Planning, Supply Chain and Product Planning, Services and Operations of STMicroelectronics. Andrea Antichi has been appointed Chief Manufacturing Officer, after having held the position of Head of Vehicle and having worked in Ferrari since 2006. Finally, Marco Lovati will continue his role as Chief Internal Audit Officer and will report again to the Audit Committee of the Board of Directors of Ferrari NV and Sabina Fasciolo will continue to fulfill their role as Chief Compliance Officer.
“Ferrari has promoted several internal managers, but has also hired two executives from Vigna’s former employer, STMicroelectronics: Ernesto Lasalandra, appointed Chief Research & Development Officer, and Angelo Pesci to oversee purchasing and quality, suggesting that the CEO is turning to trusted allies to support the turnaround and put the company on the path of electrification, “Bestinver Securities commented this morning, recalling that the debut of the first fully electric vehicle of the Reds will be in 2025.
Bestinver views this organizational change positively as the new structure will further foster innovation, optimize processes and increase collaboration both internally and with partners. This decision is clearly in line with the company’s aim to remain at the forefront of next-generation technologies relative to the automotive sector. More information on Vigna’s strategy for the era of battery technology and digital services will be disclosed during the Capital Markets Day scheduled for June 16th.
Intesa Sanpaolo and Banca Akros consider the new organizational structure a way to seize new future opportunities and to further improve the innovation and optimization of the group’s processes. However, they do not expect a particular impact from this news on the share price today which in fact at the moment on the stock exchange is down 0.18% to 224.70 euros (in the last three months it has gained 22%). Bestinver confirmed the buy rating (target price under review) on the share, while Intesa Sanpaolo hold with a target price of 220 euros as Banca Akros (neutral and target price of 210 euros). (All rights reserved)
