STMicroelectronics CEO, CFO to step down after AGM

STMicroelectronics has announced a new CEO as well as the resignation of its CFO. Deputy CEO Jean-Marc Chery will take over from CEO Carlo Bozotti after the 2018 AGM. CFO Carlo Ferro has decided to leave at the same time as Bozotti's retirement. 

Chery has proposed setting up a new executive committee, which will lead the management of the company and be led by ST's CEO as its Chairman. The committee will become effective upon the appointment of Chery as sole member of the Managing Board, President and CEO of ST, immediately following the company's annual general meeting of shareholders. Other members of the committee are:

• Orio Bellezza, President, Technology, Manufacturing and Quality 
• Marco Cassis, President, Sales, Marketing, Communications and Strategy Development
• Claude Dardanne, President, Microcontrollers and Digital ICs Group
• Lorenzo Grandi, President, Finance, Infrastructure and Services and Chief Financial Officer
• Marco Monti, President, Automotive and Discrete Group
• Georges Penalver, President, Human Resources and Corporate Social Responsibility 
• Steve Rose, President, Legal Counsel
• Benedetto Vigna, President, Analog, MEMS and Sensors Group.

Chery as worked as ST since 1986, when joined Thomson Semiconductors, ST's predecessor. In 2008, he was promoted to CTO and assumed additional responsibilities for manufacturing and quality in 2011 and the Digital product sector in 2012. In 2014, he became COO. Chery is also chairman of STS, ST's manufacturing joint venture in China.

No replacement has been named yet for Ferro. He has been working with ST since its IPO in 1994.