ST's Pasquale Pistorio Succession Plan Announced

March 14, 2004 by Jeff Shepard

At the Annual General Shareholders' Meeting of 2005, the mandate of Pasquale Pistorio as President and Chief Executive Officer of STMicroelectronics Inc. (ST, Geneva, Switzerland) will expire. Pistorio will formally retire from the positions that he has held since the formation of STMicroelectronics in 1987.

The company's Supervisory Board has approved Pistorio's recommendation for his succession and will propose that Carlo Bozotti be appointed as Sole Member of the Management Board and President and Chief Executive Officer of STMicroelectronics, subject to approval by the company's shareholders at the 2005 Annual General Meeting. Moreover, as part of the succession plan, the Supervisory Board, upon the proposal of Bozotti, will endorse the appointment of Alain Dutheil as Chief Operating Officer reporting to the President and CEO.