Didier Lamouche has announced plans to step down as CEO of semiconductor vendor ST-Ericsson as its owners consider exiting the joint venture.
ST-Ericsson said Lamouche will resign at the end of March to pursue undisclosed opportunities.
He has also…
Didier Lamouche has announced plans to step down as CEO of semiconductor vendor ST-Ericsson as its owners consider exiting the joint venture.
ST-Ericsson said Lamouche will resign at the end of March to pursue undisclosed opportunities.
He has also resigned as CEO of Swiss semiconductor firm STMicroelectronics, which shares the JV with Swedish vendor Ericsson.
Hans Vestberg, chairman of ST-Ericsson, said: “Didier Lamouche came into ST-Ericsson when the company was in a very challenging situation and has been instrumental in bringing the company to the point where it is more focused on strategy execution, a much lower breakeven point and positive momentum where the new LTE modem-based products are ready for market introduction this year.”
The parent companies announced late last year that they are exploring various strategic options for ST-Ericsson’s assets.
At the time, Ericsson recorded an expense of SEK8bn (US$1.2bn) for writing off the value of its stake in the venture.
A spokeswoman for the Swedish firm said: “During the process of exploring options Ericsson will not speculate on the possible outcomes, timelines, and future strategic alternatives for ST-Ericsson assets.”
JP Morgan is reportedly advising STMicroelectronics on the venture’s future.
STMicroelectronics also declined to comment.
