SAN FRANCISCO STMicroelectronics NV Wednesday (Dec. 13) said it plans to reorganize its product segments into three separate groups and said one of its top executives has left the company.
Effective Jan. 1, ST (Geneva) said it would divide its product groups into an Application Specific group, a Flash Memories group and a Multi-segment group. The company said the restructuring would prepare the company for a strategic repositioning in flash memory while aligning other product groups with market requirements.
Doug Freedman, an analyst with American Technology Research, said last week that an un-named private equity institution is
preparing to acquire the NOR flash memory businesses of ST and Intel Corp.
"We are progressing in our efforts to pursue industry consolidation and financial deconsolidation in flash memory devices," said Carlo Bozotti, ST president and CEO, in a statement. "This significant move, in combination with the reorganization of Application Specific groups and creation of the Industrial & Multi-segment sector, enable ST to better address opportunities in the industry's fastest growing markets."
The standalone Flash Memories group will incorporates all of ST's Flash memory operations, including technology R&D, all product-related activities, front-end and back-end manufacturing, marketing and sales worldwide, ST said. The group will be led by Mario Licciardello, corporate vice president and general manager, ST said.
ST said its MPA business, non-flash memory products and MEMS activity will be grouped to form the Industrial & Multi-segment sector. Carmelo Papa, who is being promoted to executive vice president, will lead this group, the company said.
ST's Application Specific groups will now be comprised of the newly created Mobile, Multimedia & Communications group and the Home Entertainment & Displays group, as well as the existing Automotive Product group and Computer Peripherals group, the company said. Tommi Uhari is being promoted to executive vice president and will lead the Mobile, Multimedia & Communications group, the company said. Christos Lagomichos is being promoted to corporate vice president for the Home Entertainment & Displays group ST said.
The Automotive Products group and Computer Peripherals group will continue to be managed by corporate vice presidents Ugo Carena and Gian Luca Bertino, respectively, ST said.
Also Wednesday, ST announced that Philippe Geyres, executive vice president and general manager of its Home, Personal, Communication sector, is resigning to pursue other opportunities.