Ferrari’s CEO Likes to Run the Luxury Car Company Like a Tech Startup
Since taking the helm in 2021, Benedetto Vigna has been transforming Ferrari into a more nimble and innovative company. His background in tech is guiding his approach, as he seeks to make the iconic carmaker more responsive to the changing automotive landscape.
Streamlining the Hierarchy
One of Vigna’s key moves has been to flatten the company’s hierarchy. Previously, there were six levels of employees between the CEO and test drivers. Now, there are three. This streamlined structure reduces bureaucracy and empowers employees to make decisions more quickly.
Embracing a Tech Mindset
Vigna’s tech background has also influenced his management style. He believes that companies work more efficiently through smaller teams. “In a big team you feel like a number,” he told Bloomberg. “In a small team, you are a person that’s contributing one way or another.”
Focusing on Performance
Vigna’s approach has been met with positive results. Since he took over, Ferrari’s stock price has nearly doubled. The company is also on track to roll out its first electric car by the end of 2025.
Key Insights
- Vigna’s background in tech is shaping his approach to running Ferrari.
- He has flattened the company’s hierarchy to reduce bureaucracy and empower employees.
- Vigna believes that companies work more efficiently through smaller teams.
- Ferrari’s stock price has nearly doubled since Vigna took over.
- The company is on track to roll out its first electric car by the end of 2025.
Divya