STMicroelectronics Welcomes Back CFO

As STMicroelectronics (NYSE: STM  ) and Ericsson (NASDAQ: ERIC  ) wind down ST-Ericsson, the companies' product development joint venture, ST-Ericsson's current president and CEO, Carlo Ferro, has returned to STMicroelectronics in his former role as CFO, the company announced Monday. Ferro was CFO of STMicro for nearly nine years prior to his transition to ST-Ericsson in 2012.

In addition to resuming his CFO title and duties with STMicro, he will also lead its legal, operations planning, procurement, IT, and investor relations functions, according to the company. On top of Ferro's enhanced role with STMicro, he will continue as president and CEO of ST-Ericsson until the joint venture is completely dissolved.

STMicroelectronics President and CEO Carlo Bozotti commented, "Under Carlo's leadership, the transition [out of ST-Ericsson] 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."

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2581617, ~/Articles/ArticleHandler.aspx, 9/16/2014 5:41:49 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement