STMicroelectronics announces changes in executive managementCarlo Ferro returns to ST as Chief Financial Officer with extended responsibilities Continues as ST-Ericsson President & CEO through the joint venture wind-down
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.
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 extended responsibilities”.
“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.
In 2012, the Company’s net revenues were $8.49 billion. Further information on ST can be found at www.st.com
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.