ST Names Committee to Replace Pistorio

January 23, 2005 by Jeff Shepard

STMicroelectronics Inc. (ST, Geneva, Switzerland) has set up a corporate executive committee as part of its succession plan as President and CEO Pasquale Pistorio prepares to retire. The company said the role of the committee, which will include five corporate executives, as well as the CEO and COO, will be to formulate corporate policy making. Pistorio is expected to retire in May.

Pistorio said, "I believe the newly formed committee will play a key role in fulfilling the company’s long-term vision of matching the market and technology evolution, while preserving the continuity of ST’s corporate values."

The members of the executive committee are incoming President and CEO Carlo Bozotti, incoming COO Alain Dutheil, Enrico Villa (for the sales and marketing organization), Laurent Bosson (for manufacturing and technology), Philippe Geyres (for the product groups), Carlo Ferro (as CFO), and Andrea Cuomo (as Chief Strategic Officer).