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CEO to exit ST-Ericsson

Posted: 14 Mar 2013 ?? ?Print Version ?Bookmark and Share

Keywords:LTE? smartphones? MEMS? sensors?

ST-Ericsson President and CEO Didier Lamouche has announced his resignation, effective March 31, following STMicroelectronics pull out from the mobile chip venture. (See ST ends Ericsson partnership to focus on embedded.)

No replacement has been announced for Lamouche in his positions at either ST-Ericsson or STMicroelectronics where he was COO until December 2011.

In the financial results for 4Q11, immediately after Lamouche became CEO, ST-Ericsson made a net loss of $231 million on sales revenue of $409 million. In the most recent quarter's results, those for 4Q12, ST-Ericsson made an adjusted loss of $133 million on sales revenue of $358 million. (See ST exit strategy a little too late?)

ST sees power, sensors as technology drivers of 2013
Continuing to improve power efficiency has become as important as, if not more important than, increasing the operating speed of semiconductors. Full story here.

Hans Vestberg, chairman of the ST-Ericsson board of directors, said: "Didier Lamouche came into ST-Ericsson when the company was in a very challenging situation and has been instrumental in bringing the company to the point where it is more focused on strategy execution, has a much lower break-even point and positive momentum where the new LTE modem-based products are ready for market introduction this year."

- Peter Clarke
??EE Times

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