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		</div><p>Ferrari has announced that Benedetto Vigna, an Italian executive at Europe’s largest semiconductor chipmaker, will be the luxury sports carmaker’s new CEO.</p>
<p>Mr Vigna, 52, will join Ferrari in September from Geneva-based STMicroelectronics, where he has worked for 26 years, most recently running the most profitable operating business, its analogue, micro-electromechanical systems and sensors group.</p>
<p>The appointment signals Ferrari’s focus on new technologies shaping an automotive world in transition, as the importance of electric powertrains, autonomous driving technologies and in-car connectivity is growing.</p>
<p>Ferrari has announced that its first fully electric supercar will be launched in 2025.</p>
<p>Ferrari said Mr Vigna’s knowledge of the semiconductor industry “will accelerate Ferrari’s ability to pioneer the application of next-generation technologies”.</p>
<p>Mr Vigna will be the third CEO at the company in three years, following the resignation in December of Louis Camilleri after a bout with Covid-19 and the unexpected death of Sergio Marchionne in July 2018.</p>
<p>Chairman John Elkann has been running the company, based in the northern Italian city of Maranello, on an interim basis.</p>
<p>Mr Elkann praised Mr Vigna’s “deep understanding of the technologies driving much of the change in our industry… his proven innovation, business-building and leadership skills”.</p>
<p>Ferrari’s sleek sports cars and Formula One racing machines have made the prancing horse logo among the world’s most powerful brands.</p>
<p>It is dipping its toes into the luxury sector, part of a long-term strategy to transform itself into a luxury goods maker, with the runway preview of a new luxury ready-to-wear collection this weekend in Maranello.</p>
<p>Like the rest of the car industry, Ferrari has been hit by the coronavirus pandemic, which temporarily shut production in spring 2020.</p>
<p>Ferrari announced last month that it will not hit 2022 financial targets due to the pandemic’s impact, despite a strong first-quarter rebound.</p>
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