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STMicro Said to Struggle in Search for CEO to Replace Bozotti

  • French, Italian state shareholders at odds about future chief
  • Several executives have rebuffed approaches by the company

Chipmaker STMicroelectronics NV, struggling to name a successor to its chief executive officer, is exploring international candidates as its French and Italian state shareholders fail to agree on someone from either country, said people familiar with the matter.

With only about six months until CEO Carlo Bozotti’s contract expires, several French and Italian executives from the technology and telecommunications industries have rebuffed approaches, the people said, asking not to be named discussing private talks. The state investors in the past year have intensified their scrutiny over the company and had some disagreements over strategy, closing some units and refocusing research spending, and that tension has put off potential successors to the people said.