ST-Ericsson appoints third ceo in two years
ST-Ericsson has announced it is replacing its chief executive officer, Gilles Delfassy with operations chief, Didier Lamouche, pictured. Lamouche will be the third ceo since the joint venture was formed in 2009.
In this time the company has never made a quarterly profit and has been constantly reducing costs.
The parent companies, STMicroelectronics and Ericsson, said in a statement that they were 'committed to the 50/50 joint venture' and will 'continue to support its strategy towards industry leadership and sustainable financial return'.
Hans Vestberg, chairman of ST-Ericsson, said: "Didier Lamouche's background and extensive industry experience will bring important additions to ST-Ericsson during this crucial phase in the company's evolution."
Gilles Delfassy will support Lamouche, as senior advisor to the ceo, during a transition period. Lamouche, while maintaining his title of ST chief operating officer, will focus full time on leading ST-Ericsson.
