STMicroelectronics announces new organization, and its President will leave the Company.

Update Time: Jan 15, 2024    Readership: 95

STMicroelectronics announces new organization, and its President will leave the Company.

Recently, STMicroelectronics (ST) announced its new organization, effective February 5th, 2024. The main measure is that the Company will be re-organized from three to two Product Groups. The two new Product Groups will be:
1. Analog, Power & Discrete, MEMS and Sensors (APMS), led by Marco Cassis, ST President and member of the Executive Committee; and
2. Microcontrollers, Digital ICs and RF products (MDRF), led by Remi El-Ouazzane, ST President and member of the Executive Committee.

The new organization is to deliver enhanced product development innovation and efficiency, time-to-market as well as customer focus by end market. Meanwhile, to complement the existing Sales & Marketing organization, a new application marketing organization by end market will be implemented across all ST Regions. This will provide ST customers with end-to-end system solutions based on the Company’s product and technology portfolio.
The application marketing organization will cover the following four end markets:
- Automotive
- Industrial Power and Energy
- Industrial Automation, IoT and AI
- Personal Electronics, Communication Equipment and Computer Peripherals.

Jean-Marc Chery, President and CEO of STMicroelectronics, said that this is an important step in the development of the established strategy, in line with their value proposition to all stakeholders and with the business and financial ambitions set back in 2022. This move will enable them to increase value extraction from their broad and unique product and technology portfolio.  And increase its ability to complement its offerings with system solutions through an end-market application marketing organization that is closer to its customers.

Concurrent with this new organization Marco Monti -- former member of ST’s Executive Committee and ST President of the former Automotive and Discrete Product Group, will leave the Company. Marco Monti was born in Milan, Italy, in 1961. He joined ST in Central R&D in 1986. In the following dozens of years, he devoted himself in several important groups in ST, contributing to the expansion of ST’s automotive business in Japan. Then, in 2012, Monti was appointed Executive Vice President, General Manager of ST’s Automotive Product Group.  His mandate was expanded to include discrete and power transistor products in January 2016.

According to the financial report released by STMicroelectronics in 2023 Q3, the company’s net revenue for the quarter was US$4.43 billion, a year-on-year increase of 2.5%. The continued growth of the automotive business was the main factor of STMicroelectronics’ revenue growth. Looking at the global market share of automotive ICs, the European semiconductor companies that occupy the leading market include Infineon, STMicroelectronics, NXP, etc.

This adjustment of the organization is a reflection of ST's active response to market changes and is also a strategic deployment for future development. By integrating resources and improving synergy benefits, ST is expected to remain competitive in the fierce market competition and achieve more sustainable development.

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