STMicroelectronics Announces New Appointments in the Executive Management Team
STMicroelectronics, (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today that, effective immediately, Georges Penalver has been appointed Executive Vice President, Member of the Corporate Strategic Committee, Corporate Strategy Officer. Penalver was formerly Managing Director of the Communication Business Group of Sagem and, more recently, Member of the Executive Board of France Telecom/Orange Group in charge of the Group’s Strategic Initiatives and Partnerships. He brings a wide experience in defining corporate strategies, leading businesses and implementing comprehensive transformation processes.
Jean-Marc Chery, Executive Vice-President, will take the additional responsibility of General Manager, Digital Sector, while maintaining his current role of Executive Vice-President, Chief Technology and Manufacturing Officer.
As a consequence of Chery’s expanded responsibilities, Eric Aussedat, General Manager, Imaging and Bi-CMOS ASICs Group; Joel Hartmann,Corporate Vice President, Front-end Manufacturing & Process R&D, Digital Sector, and Philippe Magarshack, Corporate Vice President, Design Enablement & Services, are promoted to Executive Vice Presidents while maintaining their previous scope of activities; Stéphane Delivré, Corporate Vice President, Global Chief Information Officer, will now report to the President & CEO.
Philippe Lambinet, Executive Vice President, Corporate Strategy Officer and General Manager, Digital Sector is leaving the company today to pursue other interests.
ST also announced it will present its new strategic plan in December. The objectives of the plan are to continue to accelerate the company’s roadmap towards the already announced financial model, taking into account the changed market environment and some specific customer dynamics, and to continue to ensure the future success of the company in total, with the two pillars, the Analog and the Digital businesses, both becoming as quickly as possible sustainable segments of ST.
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.