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4-Traders Homepage  >  Equities  >  Euronext Paris  >  STMicroelectronics    STM   NL0000226223

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STMicroelectronics : Statement from the Supervisory Board of STMicroelectronics

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04/28/2017 | 04:31pm CEST

(GlobeNewswire) - Amsterdam, April 27, 2017 - Maurizio Tamagnini, Chairman of the Supervisory Board of STMicroelectronics N.V. (NYSE: STM), and Didier Lombard, Vice-Chairman, have asked Carlo Bozotti, ST`s President and CEO, to be available for a reappointment in his current role. Carlo Bozotti has accepted the proposal.

Therefore, the Supervisory Board has decided to propose for shareholder approval at the Company`s next Annual General Meeting of Shareholders, the reappointment for one year of Carlo Bozotti as the sole member of the Managing Board and the Company`s President and Chief Executive Officer. This will be the last mandate for Mr. Bozotti, turning 65 this year, who will then formally retire from his current position.

The decision recognizes the importance of giving continuity to the execution of ST`s strategy that is delivering positive results under Mr. Bozotti`s leadership.

Moreover, the Supervisory Board acknowledged the decision of Carlo Bozotti to establish, effective July 1, 2017, the following organization:

Jean-Marc Chery, Deputy CEO

Orio Bellezza, President, Global Technology and Manufacturing

Marco Cassis, President, Global Sales and Marketing

Claude Dardanne, President, Microcontrollers and Digital ICs Group

Carlo Ferro, Chief Financial Officer and President, Finance, Legal, Infrastructure and Services

Marco Monti, President, Automotive and Discrete Group

Georges Penalver, Chief Strategy Officer and President, Strategy, Communication, Human Resources and Quality

Benedetto Vigna, President, Analog, MEMS and Sensors Group

About STMicroelectronicsST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST`s products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices. By getting more from technology to get more from life, ST stands for life.augmented.

In 2016, the Company`s net revenues were $6.97 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:Tait Sorensen Group VP, Investor RelationsSTMicroelectronicsTel: +1 602 485 [email protected]

MEDIA RELATIONS:Nelly Dimey Director, Corporate Media and Public RelationsTel: + 33 1 58 07 77 [email protected]

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/a3ae55b3-1898-4f40-8cbd-ebf35f96e9df

(c) Copyright: Arab News 2017 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 7 690 M
EBIT 2017 730 M
Net income 2017 635 M
Finance 2017 383 M
Yield 2017 1,58%
P/E ratio 2017 23,42
P/E ratio 2018 17,37
EV / Sales 2017 1,80x
EV / Sales 2018 1,64x
Capitalization 14 225 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 14,2 $
Spread / Average Target -8,7%
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Managers
NameTitle
Carlo Bozotti President & Chief Executive Officer
Maurizio Tamagnini Chairman-Supervisory Board
Jean-Marc Chery Chief Operating Officer
Carlo Ferro CFO, EVP-Finance, Legal, Infrastructure & Services
Didier Lombard Vice Chairman-Supervisory Board
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