STMicroelectronics Launches its 'Greater China' Region and Appoints Corporate Vice President
Geneva, October 17, 2005 - STMicroelectronics (NYSE: STM) today announced the creation of its new 'Greater China' region, covering the Company's operations in China, Hong Kong, and Taiwan. ST also announced the appointment of Bob Krysiak as Corporate Vice President and General Manager of the new entity.
Today, customers in the Asia Pacific region account for close to 50% of ST's total sales, with shipments within China responsible for more than 50% of the Asia Pacific volume. Looking ahead, China is expected to make up one fifth of the global semiconductor market within the next five years. For a long-time leader in the China semiconductor market with a strong integrated presence of manufacturing, design, research, sales and marketing operations, the establishment of its Greater China Region is a vital step in strengthening ST's success in the world's fastest growing economic zone.
The Company has appointed Bob Krysiak, currently Marketing Director for ST's Home, Personal, and Communications Groups, to the newly created position of Corporate Vice President and General Manager of ST Greater China, effective immediately. Krysiak (51) couples a successful management track record with extensive market and product knowledge in ST's key segments of Digital Consumer, Telecoms, Automotive, and Industrial that are well aligned with the needs of the Chinese market.
Krysiak has worked for the Company since 1983 in a wide variety of roles, from the development of advanced microprocessors to managing complex System-on-Chip projects and overseeing ST's global business in innovative consumer applications. In September 2004, Krysiak became Marketing Director for the newly formed Home, Personal, and Communication (HPC) product organization, which accounts for over one third of ST's annualized sales and encompasses a whole range of applications from cell phones to digital set-top boxes.
"With active support from the parent Asia-Pac region and direct involvement of its present General Manager, Jean-Claude Marquet, Bob's new organization will be tuned to develop the local Chinese market while maintaining our well-established and close relationships with global customers already present in China," commented Alain Dutheil, Chief Operating Officer of STMicroelectronics. "ST's Greater China organization will be structured around market segments, supporting and protecting design wins achieved in other regions. During the initial transition period," continued Dutheil, "Bob Krysiak will report to Jean-Claude Marquet who will support him in defining the structure of the newly created entity."
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 2004, the Company's net revenues were $8.76 billion and net earnings were $601 million. Further information on ST can be found at www.st.com.
