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ST-Ericsson's CEO Resigns
Published on:
ST-Ericsson -- a semiconductor joint venture of STMicroelectronic and Ericsson -- announced today that Didier Lamouche, president and chief executive officer, has decided to resign from the Company to pursue other opportunities.
Lamouche will remain in his current position until March 31, 2013.
He took up the post of CEO at the end of 2011, moving from the post of Chief Operating Officer at STMicroelectronics -- and was working to turn around the loss making company.
STMicroelectronics also announced late last year that it is looking to sell its 50% stake in the company. Ericsson has already said that it wont be buying out its partner.
Hans Vestberg, Chairman of the ST-Ericsson's board of directors, said: "Didier Lamouche came into ST-Ericsson when the company was in a very challenging situation and has been instrumental in bringing the company to the point where it is more focused on strategy execution, a much lower breakeven point and positive momentum where the new LTE modem-based products are ready for market introduction this year."
Tags: [st-ericsson]
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