ST-Ericsson Board of Directors appoints wireless expert Gilles
Delfassy as President and CEO
(Thomson Reuters ONE) - Alain Dutheil to join the ST-Ericsson's Board and resume role as STMicroelectronics' Chief Operating Officer after transitionGeneva, Switzerland, September 2, 2009 - ST-Ericsson, a joint ventureof STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), todayannounced the appointment of Gilles Delfassy as President and CEO ofST-Ericsson. Alain Dutheil, who has successfully led the companyduring the crucial period of formation and integration, will workwith Delfassy over the coming months to ensure a smooth transition.Delfassy will assume his position as President and CEO effectiveNovember 2, 2009. After then, Dutheil will continue to supportST-Ericsson by joining its Board and will return to his previous roleas STMicroelectronics' Chief Operating Officer.In addition, Hans Vestberg, CFO and incoming CEO of Ericsson, and amember of the Board of ST-Ericsson, has become Chairman of the Boardof ST-Ericsson, succeeding Carl-Henric Svanberg, President and CEO ofEricsson.Delfassy, 54, is a highly-respected expert in the wireless industry.During his 28-year career at Texas Instruments, he created and builtwhat would become, during that time, the largest wirelesssemiconductor business in the world. After his retirement from TexasInstruments in 2007, Delfassy became an advisor to many high-techcompanies and has served on several corporate boards.Alain Dutheil, current President and CEO of ST-Ericsson, said: "Inless than one year, ST-Ericsson has become a leading force in ourindustry, with strong innovation capabilities, outstanding customerrelationships, ability to offer a unique portfolio, and with what Iam proud to define as the best team of professionals. Together, wehave already come a long way in reshaping and integrating thecompany. Now, with Gilles joining us with his decades of wirelessexpertise and outstanding track record, the team will be evenstronger and well positioned to achieve long term, profitablegrowth."Carl-Henric Svanberg, previously Chairman of ST-Ericsson's Board, andCarlo Bozotti, Vice-Chairman, praised the efforts and results ofDutheil: "Putting together three separate companies to create aformidable wireless business is a challenging undertaking, especiallyin the current macro-economic environment. Alain has done anextraordinary job in building a strong team and a solid foundationfrom which ST-Ericsson can grow." Hans Vestberg, newly-appointedChairman of ST-Ericsson's Board, and Carlo Bozotti, warmly welcomedDelfassy: "We are very pleased that Gilles will now take over as hehas the right expertise and experience to successfully lead thecompany going forward."Delfassy sees this as a unique and challenging opportunity. "I amproud to join ST-Ericsson," he said. "Being part of a successful andgrowing business has been one of the most rewarding experiences of mycareer. Now I have the honor to lead ST-Ericsson from its earlystages to what I believe can be profitable growth and true marketleadership. I look forward to working with the management team andall of ST-Ericsson's talented employees to build on the excellentwork started by Alain."Notes to EditorsPhotos and bio of Gilles Delfassy will be available at:http://www.stericsson.com/about/Managment_Team.jspAbout ST-EricssonST-Ericsson is a world leader in developing and delivering a completeportfolio of innovative mobile platforms and cutting-edge wirelesssemiconductor solutions across the broad spectrum of mobiletechnologies. The company is a leading supplier to the top handsetmanufacturers and ST-Ericsson's products and technologies enable morethan half of all phones in use today. The company generatedpro-forma sales of about USD 3.6 billion in 2008. ST-Ericsson wasestablished as a 50/50 joint venture by STMicroelectronics andEricsson in February 2009, with headquarters in Geneva, Switzerland.More information on ST-Ericsson is available at www.stericsson.com.FOR FURTHER INFORMATION, PLEASE CONTACT:Media RelationsPhone: +41 22 930 2733Email: media.relations(at)stericsson.comInvestor RelationsPhone: +41 22 929 6973Email: investor.relations(at)stericsson.comhttp://hugin.info/141758/R/1338839/319569.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 02.09.2009 - 01:33 Uhr
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