Ferrari hires iPhone innovator as CEO to hasten tilt to tech

Ferrari hires iPhone innovator as CEO to hasten tilt to tech

Ferrari hires iPhone innovator as CEO to hasten tilt to tech

The man who helped the iPhone sense when it’s been tilted sideways is taking over as CEO of Ferrari NV, highlighting the growing dominance of technology in the auto industry that’s witnessing its most profound transformation in more than a century.

The iconic Italian supercar maker announced Wednesday that it recruited Benedetto Vigna, 52, from chipmaker STMicroelectronics NV to become chief executive officer starting Sept. 1.

In May, the automaker delayed longstanding earnings targets as it adjusts spending in response to the pandemic. Ferrari had aimed for 2022 profit of at least 1.8 billion euros ($2.2 billion) before interest, taxes, depreciation and amortization and now plans to achieve this and other goals a year later.

 

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