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STMicroelectronics Announces Changes In Executive Management

Stocks in this article: STM

GENEVA, Feb. 20, 2012 /PRNewswire/ -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced that Carlo Ferro has accepted to focus on the turnaround of ST-Ericsson as chief operating officer of the company.

"I have been working closely with Carlo in his role as ST's chief financial officer for the past six years," said Carlo Bozotti, ST president and chief executive officer. "I am confident that his knowledge, drive for results and determination will play a fundamental role in the turnaround of ST-Ericsson. I would like to thank him for taking on this important assignment." 

Mario Arlati, ST's chief accounting officer and head of corporate external reporting, has been appointed chief financial officer while Ferro is assigned to ST-Ericsson.

Investor relations, previously part of the CFO organization, is now under the responsibility of Philippe Lambinet, Corporate Strategy Officer.

About STMicroelectronics

ST is a global leader in the semiconductor market serving customers across the spectrum of sense and power technologies and multimedia convergence applications. 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 2011, the Company's net revenues were $9.73 billion. Further information on ST can be found at  www.st.com.

Carlo Ferro , Chief Operating Officer, ST-Ericsson

Carlo Ferro has been Senior Executive Vice President and Chief Financial Officer of STMicroelectronics since May 2003 and over time his responsibilities have been extended to include investor relations, treasury, corporate communication and – more recently - operation planning, procurement and logistics. He has also been a member of ST's Corporate Strategic Committee. He sat on the Board of Directors and chaired the Audit Committee of ST-Ericsson SA since its inception.

Ferro joined ST in 1999 as Group Vice President Corporate Finance. In 2002, he became Deputy CFO, and was promoted to Chief Financial Officer in 2003.

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