Geneva, Switzerland, March 11, 2013 – Following the STMicroelectronics’ announcement issued earlier today, ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), announced today that Didier Lamouche, president and chief executive officer, has decided to resign from the Company to pursue other opportunities.
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. On behalf of ST-Ericsson's board, I thank Didier for his strong contribution to ST-Ericsson."
Lamouche will remain in his current position until March 31, 2013.
ST-Ericsson is a world leader in developing and delivering a complete portfolio of innovative mobile platforms and cutting-edge wireless semiconductor solutions across the broad spectrum of mobile technologies. ST-Ericsson was established as a 50/50 joint venture by STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC) in February 2009, with headquarters in Geneva, Switzerland.
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