In addition to the CFO role, Ferro will be responsible for legal, central operation planning, procurement, IT and investor relations. He will also remain President and CEO of ST-Ericsson, the 50:50 joint venture between ST and Ericsson, through the wind-down of the company.
Ferro has been ST's CFO for nine years since May 2003 until March 2012, when he was temporarily assigned to ST-Ericsson.
"Over the past eighteen months, Carlo has done an outstanding job in ST-Ericsson as Chief Operating Officer and then leading the company as CEO through the transition towards the split up of the JV," said Carlo Bozotti, President & CEO of ST. "Under Carlo's leadership, the transition has occurred on plan with lower exit costs than anticipated while minimizing the social impact. We will benefit from his return to a fully operational role at ST with extended responsibilities".
"I would like to thank Mario Arlati for his dedication and contribution as CFO for the past eighteen months," continued Bozotti. "Mario will now be responsible for Strategies and Business Management in the Sense & Power and Automotive segment, reporting to me".
Ferro's appointment will be effective today, August 5, 2013.
ST is a global leader in the semiconductor market serving customers across the spectrum of sense and power and automotive products and embedded processing solutions. From energy management and savings to trust and data security, from healthcare and wellness to smart consumer devices, in the home, car and office, at work and at play, ST is found everywhere microelectronics make a positive and innovative contribution to people's life. By getting more from technology to get more from life, ST stands for life.augmented.
In 2012, the Company's net revenues were $8.49 billion. Further information on ST can be found at www.st.com
Executive management changes: http://hugin.info/152740/R/1721080/573135.pdf
For further information, please contact: INVESTOR RELATIONS: Tait Sorensen Group VP Investor Relations Tel: +1 602 485 2064 Email Contact MEDIA RELATIONS: Nelly Dimey Director Corporate Media and Public Relations Tel: +33 1 58 07 77 85 Email Contact