StMicroelectronics has decided it's time for a change. The now former Chief Financial Officer (Cfo from the English acronym) Carlo Ferro underwent an upgrade and was appointed general manager of St-Ericsson, an Italian-French joint venture between Stm and Ericsonn. In his place was Mario Arlati, former chief accounting officer in charge of the financial area of St. The change at the top is a consequence of the disappointing data of the last quarter of 2011. “I am sure that Ferro's competence, result orientation and determination will play a fundamental role in the relaunch of ST-Ericsson”, commented the president and managing director of Stm Carlo Bozotti.
The new COO Ferro has been senior executive vice-president and CEO of the Italian-French holding since May 2003 with responsibilities that have grown over the years.
On the Stock Exchange, the Stm stock scores a +6,07% to 5,305 euros per share.
