STMicroelectronics Appoints New Corporate Vice Presidents for its Asia Pacific and Emerging Markets Regions
Geneva, June 20, 2006 - STMicroelectronics (NYSE: STM) today announced the appointment of two new Corporate Vice Presidents, Francois Guibert for Asia Pacific and Thierry Tingaud for the Emerging Markets region.
Francois Guibert, currently Corporate Vice President and General Manager of ST's Emerging Markets Region, will be appointed to the position of Corporate Vice President, CEO Asia Pacific region, effective October 1, 2006. Guibert's appointment follows the decision of Jean-Claude Marquet, the current Corporate Vice President of ST Asia Pacific, to retire in October 2006, after successfully managing the subsidiary since 1995.
Under Marquet's leadership, the Company's operations in the Asia Pacific countries, including China, have seen substantial growth over the past ten years, with customers in the region currently accounting for close to 50% of ST's total sales. He has been instrumental in establishing ST's integrated presence in Asia Pacific, spanning the world-class manufacturing machine, R&D and design, customer support, as well as logistics and administrative infrastructure. Marquet also contributed to the recent establishment of ST's new Greater China organization that has been created to further drive the Company's success in the world's fastest growing economic zone.
Guibert, 53, is an ideal candidate for the position of Corporate VP Asia Pacific, combining a successful management track record and profound industry knowledge with key contributions to ST's success in Asia Pacific. At the end of the 1980s, Guibert helped set up ST's Design Centers in Taiwan, Korea, and Hong Kong. He also served as President of the Company's operations in Taiwan in 1989 - 1992 and later, helped set-up the back-end joint venture with Shenzhen Electronics Group. In 2004, Guibert contributed to the successful negotiations that led to an agreement between ST and Hynix to build the new front end memory-manufacturing facility in China, which is scheduled to begin volume production this year.
Succeeding Guibert's appointment, Thierry Tingaud, currently Vice President Sales and Marketing Europe for Telecommunications, will be promoted to the position of Corporate VP and General Manager of ST's Emerging Markets Region, effective July 1, 2006.
Taking the baton from Guibert, Tingaud, 47, is fully qualified to direct and drive ST's Sales and Marketing operations in Africa and the Middle East, India, Latin America, Russia and the Eastern European countries. With twenty years of experience in sales and marketing worldwide for the Company's key market segment of Telecommunications, Tingaud has played an instrumental role in developing ST's wireline and wireless business with major telecommunication customers that have operations in Asia, China, Europe, Japan, and the Americas. He has also contributed to the Company's leading position and growth in the mobile phone market.
"The Asia-Pacific economies and the emerging markets around the world rank among the fastest growing regions within the global electronics industry. I count on Francois and Thierry to continue our leading position, expand our presence and increase our influence in parts of the world that have strategic importance for our future success," commented Alain Dutheil, Chief Operating Officer of STMicroelectronics. "I would also like to use this opportunity to praise Jean-Claude Marquet for his long-standing commitment and invaluable contribution to the success of the Company."
ST's Emerging Markets region covers a number of booming economies on four continents, including the growing giants of tomorrow - Brazil, India, and Russia. As a broad-range microelectronics supplier and complete system-solutions provider with a strong culture of cooperation and a long history of geographic diversification, ST works effectively to serve and stimulate the growth of electronics across all industries in the emerging economies, in accordance with specific local characteristics. In 2005, the Company's sales in the Emerging Markets region were approximately 600 million dollars.
Since it started its operations in the Asia Pacific region 37 years ago, ST has grown to be a major player in serving the fastest-growing regional semiconductor market in the world. The Company has built a strong integrated presence all across the region and fueled the growth of domestic sales and business with key local players, most notably in consumer, communications, and automotive sectors. According to the latest market reports, ST was ranked the fourth largest semiconductor company in the Asia Pacific region, based on 2005 sales of approximately $4.1 billion. The Company's sales in the Asia Pacific region, excluding Greater China, were approximately $1.8 billion in 2005.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2005, the Company's net revenues were $8.88 billion and net earnings were $266 million. Further information on ST can be found at www.st.com.
STMicroelectronics, Inc.
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