STMicroelectronics Announces Organizational Changes

October 20, 2004 by Jeff Shepard

STMicroelectronics Inc. (ST, Geneva, Switzerland) organizational changes that addresses the retirement and departure of senior executives concurrent with that of its President and Chief Executive Officer Pasquale Pistorio, who will leave his current position at ST after the company’s Annual General Meeting in 2005 and, with the approval of the Supervisory Board, Carlo Bozotti has been designated to become President and CEO. In turn Carlo Bozotti has designated Alain Dutheil to take on the newly created position of Chief Operations Officer.

Retiring from the company will be: Aldo Romano, Corporate Vice President, Telecommunications, Peripherals, and Automotive Groups (TPA); and Salvatore Castorina, Corporate Vice President, Discretes and Standard Circuits Group (DSG); and Joel Monnier, Corporate Vice President, Research and Development, will pursue some personal objectives early next year.

Pistorio said, "These three executives have made vital contributions to the exceptional transformation of ST from a struggling European semiconductor company into a dynamic world leader. They have each developed their respective groups into formidable organizations, competing in the market place and serving our targeted market segments."