ST-Ericsson Board of Directors appoints wireless expert Gilles Delfassy as President and CEO
Alain Dutheil to join the ST-Ericsson's Board and resume role as STMicroelectronics' Chief Operating Officer after transition
Geneva, Switzerland, September 2, 2009 - ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), today announced the appointment of Gilles Delfassy as President and CEO of ST-Ericsson. Alain Dutheil, who has successfully led the company during the crucial period of formation and integration, will work with Delfassy over the coming months to ensure a smooth transition. Delfassy will assume his position as President and CEO effective November 2, 2009. After then, Dutheil will continue to support ST-Ericsson by joining its Board and will return to his previous role as STMicroelectronics' Chief Operating Officer.
In addition, Hans Vestberg, CFO and incoming CEO of Ericsson, and a member of the Board of ST-Ericsson, has become Chairman of the Board of ST-Ericsson, succeeding Carl-Henric Svanberg, President and CEO of Ericsson.
Delfassy, 54, is a highly-respected expert in the wireless industry. During his 28-year career at Texas Instruments, he created and built what would become, during that time, the largest wireless semiconductor business in the world. After his retirement from Texas Instruments in 2007, Delfassy became an advisor to many high-tech companies and has served on several corporate boards.
Alain Dutheil, current President and CEO of ST-Ericsson, said: "In less than one year, ST-Ericsson has become a leading force in our industry, with strong innovation capabilities, outstanding customer relationships, ability to offer a unique portfolio, and with what I am proud to define as the best team of professionals. Together, we have already come a long way in reshaping and integrating the company. Now, with Gilles joining us with his decades of wireless expertise and outstanding track record, the team will be even stronger and well positioned to achieve long term, profitable growth."
Carl-Henric Svanberg, previously Chairman of ST-Ericsson's Board, and Carlo Bozotti, Vice-Chairman, praised the efforts and results of Dutheil: "Putting together three separate companies to create a formidable wireless business is a challenging undertaking, especially in the current macro-economic environment. Alain has done an extraordinary job in building a strong team and a solid foundation from which ST-Ericsson can grow." Hans Vestberg, newly-appointed Chairman of ST-Ericsson's Board, and Carlo Bozotti, warmly welcomed Delfassy: "We are very pleased that Gilles will now take over as he has the right expertise and experience to successfully lead the company going forward."
Delfassy sees this as a unique and challenging opportunity. "I am proud to join ST-Ericsson," he said. "Being part of a successful and growing business has been one of the most rewarding experiences of my career. Now I have the honor to lead ST-Ericsson from its early stages to what I believe can be profitable growth and true market leadership. I look forward to working with the management team and all of ST-Ericsson's talented employees to build on the excellent work started by Alain."
About ST-Ericsson 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. The company is a leading supplier to the top handset manufacturers and ST-Ericsson's products and technologies enable more than half of all phones in use today. The company generated pro-forma sales of about USD 3.6 billion in 2008. ST-Ericsson was established as a 50/50 joint venture by STMicroelectronics and Ericsson in February 2009, with headquarters in Geneva, Switzerland. More information on ST-Ericsson is available at www.stericsson.com.
Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 100,000 experts who provide customers in 180 countries with innovative Solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2017 were SEK 201.3 billion (USD 23.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.