STMicroelectronics Announces Change in Leadership Team

STMicroelectronics announced that Carlo Ferro, CFO and president finance, legal, infrastructure and services, has informed the company about his intention to step down from his position at the same time as ST president and CEO Carlo Bozotti’s retirement, which will be effective at the conclusion of the Annual General Shareholders’ meeting, to pursue other personal opportunities. Ferro will remain president of ST’s Italian affiliate until the end of 2018. 
 
“Carlo has been associated with ST in various capacities since its IPO in 1994,” said Bozotti. “Since then, he has strongly contributed to the company’s average compound total return to shareholders of about 10% per year.”