Ferrari reorganizes leadership; 3 top execs to leave

Europe

Ferrari said three top executives will leave the automaker as it implements a new organizational structure.

Chief Technology Officer Michael Leiters, Chief Manufacturing Officer Vincenzo Regazzoni and Chief Brand Diversification Officer Nicola Boari “will end their cooperation with Ferrari to pursue new opportunities,” the company said in a statement on Monday.

Ferrari said it will promote internal staff and appoint new hires to help implement the new structure. New hires have been identified and will be joining the company starting next month. The reorganization will be unveiled in detail on Jan. 10.

“The new structure will further foster innovation, optimize processes and increase collaboration both internally and with partners,” Ferrari said in the statement.

The management shake-up is one of the first major moves of Ferrari’s new CEO Benedetto Vigna, who took on the role in June with a task to drive the automaker into the new era of electrification.

Ferrari has no full-electric model in the range. The company plans to launch its first battery-electric vehicle in 2025.

Vigna moved to Ferrari from Franco-Italian chipmaker STMicrolectronics. He replaced former CEO Louis Camilleri who retired in December 2020 after being in the role for nearly two and a half years.

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