Ferrari chairman John Elkann had been holding the CEO position on an interim basis following Louis Camilleri’s resignation due to personal reasons in December.

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Vigna will join Ferrari as its new CEO from 1 September, a statement issued by the Italian manufacturer on Wednesday confirmed.

The 52-year-old currently serves as the president of STMicroelectronics’ Analog, MEMS and Sensor Group and is also a member of the ST Group’s executive committee.

“We’re delighted to welcome Benedetto Vigna as our new Ferrari CEO,” said Elkann.

“His deep understanding of the technologies driving much of the change in our industry, and his proven innovation, business-building and leadership skills, will further strengthen Ferrari and its unique story of passion and performance, in the exciting era ahead.”

Vigna added: “It’s a special honour to be joining Ferrari as its CEO and I do so with an equal sense of excitement and responsibility.

“Excitement at the great opportunities that are there to be captured. And with a profound sense of responsibility towards the extraordinary achievements and capabilities of the men and women of Ferrari, to all the company’s stakeholders and to everyone around the world for whom Ferrari is such a unique passion.”

Following its worst Formula 1 season since 1980, Ferrari is enjoying a resurgence during the 2021 season.

The Maranello-based outfit currently occupies third place in the constructors’ championship, two points clear of nearest rival McLaren after the opening six rounds.

Ferrari scored its first podium of 2021 at the Monaco Grand Prix, while Charles Leclerc recorded back-to-back pole positions for the team at the last two races in Monaco and Baku.