STMicroelectronics : STMicroelectronics announces changes in executive
PR No. C2731C
STMicroelectronics announces changes in executive management
Carlo Ferro returns to ST as Chief Financial Officer with extended
Continues as ST-Ericsson President & CEO through the joint venture wind-down
Geneva - August 5, 2013 - STMicroelectronics (NYSE: STM), a global
semiconductor leader serving customers across the spectrum of electronics
applications, today announced that Carlo Ferro, President & CEO of
ST-Ericsson, will resume his position of Chief Financial Officer of ST while
taking on additional responsibilities.
In addition to the CFO role, Ferro will be responsible for legal, central
operation planning, procurement, IT and investor relations. He will also
remain President and CEO of ST-Ericsson, the 50:50 joint venture between ST
and Ericsson, through the wind-down of the company.
Ferro has been ST's CFO for nine years since May 2003 until March 2012, when
he was temporarily assigned to ST-Ericsson.
"Over the past eighteen months, Carlo has done an outstanding job in
ST-Ericsson as Chief Operating Officer and then leading the company as CEO
through the transition towards the split up of the JV," said Carlo Bozotti,
President & CEO of ST. "Under Carlo's leadership, the transition has occurred
on plan with lower exit costs than anticipated while minimizing the social
impact. We will benefit from his return to a fully operational role at ST with
"I would like to thank Mario Arlati for his dedication and contribution as CFO
for the past eighteen months," continued Bozotti. "Mario will now be
responsible for Strategies and Business Management in the Sense & Power and
Automotive segment, reporting to me".
Ferro's appointment will be effective today, August 5, 2013.
ST is a global leader in the semiconductor market serving customers across the
spectrum of sense and power and automotive products and embedded processing
solutions. From energy management and savings to trust and data security, from
healthcare and wellness to smart consumer devices, in the home, car and
office, at work and at play, ST is found everywhere microelectronics make a
positive and innovative contribution to people's life. By getting more from
technology to get more from life, ST stands for life.augmented.
In 2012, the Company's net revenues were $8.49 billion. Further information on
ST can be found at www.st.com
For further information, please contact:
Group VP, Investor Relations
Tel: +1 602 485 2064
Director, Corporate Media and Public Relations
Tel: +331 5807 77 85
Executive management changes
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Source: STMicroelectronics via Thomson Reuters ONE
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