Amsterdam, April 27, 2017 - Maurizio Tamagnini, Chairman of the Supervisory Board of STMicroelectronics N.V. (NYSE: STM), and Didier Lombard, Vice-Chairman, have asked Carlo Bozotti, ST's President and CEO, to be available for a reappointment in his current role. Carlo Bozotti has accepted the proposal.
Therefore, the Supervisory Board has decided to propose for shareholder approval at the Company's next Annual General Meeting of Shareholders, the reappointment for one year of Carlo Bozotti as the sole member of the Managing Board and the Company's President and Chief Executive Officer. This will be the last mandate for Mr. Bozotti, turning 65 this year, who will then formally retire from his current position.
The decision recognizes the importance of giving continuity to the execution of ST's strategy that is delivering positive results under Mr. Bozotti's leadership.
Moreover, the Supervisory Board acknowledged the decision of Carlo Bozotti to establish, effective July 1, 2017, the following organization:
- Jean-Marc Chery, Deputy CEO
- Orio Bellezza, President, Global Technology and Manufacturing
- Marco Cassis, President, Global Sales and Marketing
- Claude Dardanne, President, Microcontrollers and Digital ICs Group
- Carlo Ferro, Chief Financial Officer and President, Finance, Legal, Infrastructure and Services
- Marco Monti, President, Automotive and Discrete Group
- Georges Penalver, Chief Strategy Officer and President, Strategy, Communication, Human Resources and Quality
- Benedetto Vigna, President, Analog, MEMS and Sensors Group
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST's products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices. By getting more from technology to get more from life, ST stands for life.augmented.
In 2016, the Company's net revenues were $6.97 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com.
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