Carlo Bozotti's Succession Plan Announced at STMicroelectronics

 

• Deputy CEO Jean-Marc Chery proposed as Sole Member of the Managing Board at the 2018 Annual General Meeting of Shareholders and to become next President & CEO
• Newly-formed Executive Committee to become effective upon shareholder approval of Mr. Chery's appointment

Geneva, January 25, 2018 - As previously reported, the mandate of Carlo Bozotti as Sole Member of the Managing Board, as well as President and CEO of STMicroelectronics, will expire at the end of the Annual General Meeting of Shareholders of 2018. The Supervisory Board of STMicroelectronics warmly thanks Carlo Bozotti who, through his 41-year career, brought an outstanding contribution to the Company and led the recent turnaround.

Mr. Bozotti, together with his management team, has driven ST's transformation over the past few years, setting the stage for sustainable and profitable growth also in the years to come. The Company's Supervisory Board supports the continuity of ST's strategy, plans and management culture and, for this reason, will propose the appointment of Jean-Marc Chery as Sole Member of the Managing Board at the 2018 Annual General Meeting of Shareholders. Mr. Chery will also hold the position of President & CEO of STMicroelectronics.

Upon the proposal of Jean-Marc Chery, the Supervisory Board has approved the establishment of a newly formed Executive Committee, entrusted with the management of the Company and led by ST's President & CEO as its Chairman.

The Executive Committee and the new ST organization will become effective upon the appointment of Jean-Marc Chery as Sole Member of the Managing Board and President & CEO of ST, immediately following the Company's 2018 Annual General Meeting of Shareholders.

The other members of ST's Executive Committee will be the following:

• Orio Bellezza, President, Technology, Manufacturing and Quality
• Marco Cassis, President, Sales, Marketing, Communications and Strategy Development
• Claude Dardanne, President, Microcontrollers and Digital ICs Group
• Lorenzo Grandi, President, Finance, Infrastructure and Services and Chief Financial Officer
• Marco Monti, President, Automotive and Discrete Group
• Georges Penalver, President, Human Resources and Corporate Social Responsibility
• Steve Rose, President, Legal Counsel
• Benedetto Vigna, President, Analog, MEMS and Sensors Group.

Mr. Chery currently serves as Deputy CEO of ST. He began his career in the Quality organization of Matra, the French engineering group. In 1986, he joined Thomson Semiconducteurs, which subsequently became ST, and held various management positions in product planning and manufacturing, rising to lead ST's wafer fabs in Tours, France, and later in Rousset, France. In 2005, Chery took charge of ST's Front-End Manufacturing in Asia Pacific. In 2008, he was promoted Chief Technology Officer and assumed additional responsibilities for Manufacturing and Quality (2011) and the Digital Product Sector (2012). In 2014, he was promoted Chief Operating Officer.

Chery chairs the Board of STS, ST's manufacturing joint venture in China, and holds board membership at the European microelectronics R&D program AENEAS.

Jean-Marc Chery was born in Orleans, France, in 1960, and graduated with a degree in Engineering from the ENSAM engineering school in Paris, France.

The biographies of the proposed members of the Executive Committee are available at the following link:

http://www.st.com/content/st_com/en/about/st_company_information/st_executive_officers.html

 

About STMicroelectronics

ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST's products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices.

By getting more from technology to get more from life, ST stands for life.augmented.

In 2017, the Company's net revenues were $8.35 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:
Tait Sorensen                                     
Group VP, Investor Relations
Tel: +1 602 485 2064
tait.sorensen@st.com

MEDIA RELATIONS:
Alexis Breton                                      
Director, PR & Media Operations
Tel: + 33 6 59 16 79 08
alexis.breton@st.com

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