ST announces changes in executive management

GENEVA, SWITZERLAND: STMicroelectronics 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 CEO. "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.