Geneva, Switzerland, November 28, 2011 - ST-Ericsson, a joint-venture of STMicroelectronics (NYSE: STM) and Ericsson (NASDAQ: ERIC) today announced the appointment of Didier Lamouche as president and chief executive officer of the Company effective December 1, 2011. Lamouche, chief operating officer of STMicroelectronics, has served on the board of ST-Ericsson since April 2011 and brings more than twenty-five years of IT and semiconductor industry experience to the role.
Lamouche replaces Gilles Delfassy after the transformation of the company’s portfolio roadmap from legacy feature phone products to leading smartphone and tablet platforms. The Company now enters a phase with prime focus on proliferating design-wins and scaling up and delivering volume, with the objective of translating its new portfolio into sustainable profitability and growth.
“I am very pleased with this appointment,” said Hans Vestberg, Chairman of ST-Ericsson, on behalf of the whole board of directors. “Didier Lamouche’s background and extensive industry experience will bring important additions to ST-Ericsson during this crucial phase in the company’s evolution. On behalf of ST-Ericsson’s board, I thank Gilles for his strong contribution to ST-Ericsson.”
Both parent companies, STMicroelectronics and Ericsson, are committed to the 50/50 joint venture and will continue to support its strategy towards industry leadership and sustainable financial return. ST-Ericsson plays an important role in Ericsson’s end-to-end strategy in a world with 50 billion connected devices and is part of ST’s vision to be a leader in multimedia convergence applications.
Gilles Delfassy will support Lamouche, as senior advisor to the CEO, during a transition period. Didier Lamouche, while maintaining his title of ST Chief Operating Officer, will focus full time on leading ST-Ericsson.
ST-Ericsson is a world leader in developing and delivering a complete portfolio of innovative mobile platforms and cutting-edge wireless semiconductor solutions across the broad spectrum of mobile technologies. The company is a leading supplier to the top handset manufacturers and generated sales of $2.3 billion in 2010. ST-Ericsson was established as a 50/50 joint venture by STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC) in February 2009, with headquarters in Geneva, Switzerland.
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