SemiMedia SemiMedia
  • Breaking News
  • MarketWatch
  • Distribution
  • Manufacturer
  • Video
  • About us
Home › MarketWatch › STMicroelectronics CEO faces dismissal as Italy seeks leadership change amid poor performance
  • 0

STMicroelectronics CEO faces dismissal as Italy seeks leadership change amid poor performance

SemiMediaEdit
February 27, 2025

February 27, 2025 /SemiMedia/ — STMicroelectronics CEO Jean-Marc Chéry is reportedly facing dismissal by the Italian government due to underperformance. Sources indicate that, as industry headwinds intensify, the government believes Chéry has failed to meet expectations, leading to calls for his removal.

The news comes at a critical time for STMicroelectronics, which has declared 2024 as one of the worst years for the industry in decades. In January, the company forecast that Q1 net income would fall short of analyst expectations. Amid weak demand, the company is also reportedly considering laying off up to 3,000 employees.

During a January earnings call, Chéry mentioned that STMicroelectronics is exploring cost-cutting measures and plans to offer early retirement options to some employees. The company will also begin discussions with employee representatives about a voluntary separation program. The ongoing industry downturn has forced the Geneva-based firm to repeatedly lower its financial targets, with its stock price falling by more than 45% over the past 12 months.

Founded in 1987, STMicroelectronics was created through the merger of French and Italian state-owned semiconductor manufacturers, and remains a strategically important entity for both countries. The company supplies traditional chips to clients such as Apple and Tesla, which generally require older technologies and do not necessitate state-of-the-art production facilities.

Related

Cost-cutting measures semiconductor electronic components news Italy government semiconductor industry Jean-Marc Chéry leadership Semiconductor industry downturn Semiconductor industry strategy Semiconductor leadership change semiconductor news STMicroelectronics CEO dismissal STMicroelectronics layoffs STMicroelectronics performance STMicroelectronics Q1 earnings forecast
ROHM releases new TVS diodes supporting high-speed CAN FD in-vehicle communication systems for autonomous driving
Previous
VIS: Q1 wafer shipments to rise 10%, with focus on Singapore 12-inch fab expansion
Next

All Comments (0)

Back
No Comment.

Top Post

Fire broke out at AKM factory in Japan
Mouser Electronics expands to the Philippines with local customer service center
Qualcomm ranked first in the world's top ten IC design companies
Analyze the key factors and prospects of electronic components shortage from the perspective of wafer industry
What is the root cause of the decline of the Japanese semiconductor industry?
ST releases price increase notice

Subscribe SemiMedia

Please check your E-mail to confirm the subscribtion.

Related posts

STMicroelectronics expands Metalenz licensing to scale metasurface optics production

STMicroelectronics expands Metalenz licensing to scale metasurface optics production

July 16, 2025
0
Semiconductor firms gain from U.S.–China policy shift on AI chips and rare earths

Semiconductor firms gain from U.S.–China policy shift on AI chips and rare earths

July 16, 2025
0
Vishay launches new Gen 3 SiC Schottky diodes for efficient high-voltage power systems

Vishay launches new Gen 3 SiC Schottky diodes for efficient high-voltage power systems

July 16, 2025
0
Texas Instruments recognized by Volkswagen for automotive semiconductor supply excellence

Texas Instruments recognized by Volkswagen for automotive semiconductor supply excellence

July 15, 2025
0
Copyright © 2017-2025 SemiMedia. Designed by nicetheme.
  • Please set up your first menu at [Admin -> Appearance -> Menus]
  • electronic components news
  • Electronic components supplier
  • Electronic parts supplier
  • Infineon
  • Electronic component news
  • Renesas
  • Vishay
  • STMicroelectronics
  • NXP
  • TDK

SemiMediaEdit

Administrator