STMicroelectronics Appoints New Corporate Vice President for Asia Pacific and Emerging Markets

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STMicroelectronics Appoints New Corporate Vice President for Asia Pacific and Emerging Markets [Copy link]

STMicroelectronics Appoints New Corporate Vice President for Asia Pacific and Emerging Markets

2006-06-23

STMicroelectronics (NYSE: STM ) has announced the appointment of two new vice presidents , Francois Guibert for Asia Pacific and Thierry Tingaud for Emerging Markets. Francois Guibert, currently Vice President and General Manager of Emerging Markets, will be appointed Vice President and Chief Executive Officer of Asia Pacific from October 1, 2006. The company announced the appointment of Guibert after Jean-Claude Marquet , the current Vice President of Asia Pacific, who has been in office since 1995 and has successfully managed the Asia Pacific subsidiary, decided to retire in October this year. Under Marquet 's leadership, the company's business in the Asia-Pacific region, including China, has experienced tremendous growth, with nearly 50 % of ST's global sales revenue coming from customers in the region. Over the past 10 years, Marquet has helped ST build a comprehensive business in Asia-Pacific countries, expanding world-class manufacturing facilities, R&D and design centers, customer support services, and logistics and administrative infrastructure to the region. He has also contributed to the company's success in this fast-growing region and the establishment of ST's new Greater China region. Guibert , 53 , is the best candidate for the position of Vice President of Asia Pacific. With a successful management record and profound industrial knowledge, he has made a significant contribution to ST 's success in the Asia Pacific region. In late 1980 , Guibert helped ST establish design centers in Taiwan, South Korea and Hong Kong. From 1989 to 1992 , he also served as President of ST Taiwan. Later, he also established a back-end joint venture with the electronics team in Shenzhen. In 2004 , under his promotion, ST and Hynix successfully negotiated a joint venture to build a memory front-end manufacturing plant in China, and the new plant is scheduled to start mass production this year. Thierry Tingaud, currently Vice President of European Sales and Marketing of the Telecommunications Division, will take over Guibert 's position and will be promoted to Vice President and General Manager of Emerging Markets of ST from July 1 , 2006 . Taking over the baton from Guibert , Tingaud , 47 , is well-placed to lead and drive ST 's marketing efforts in Africa, the Middle East, India, Latin America, Russia and Eastern Europe. With more than two decades of experience in developing the company's important telecom market, Tingaud played a key role in developing fixed-line and wireless businesses with major telecom customers in Asia, China, Europe, Japan and the United States. He also contributed to the company's leadership and rapid growth in the mobile phone market. " The Asia-Pacific economic region and emerging markets around the world are among the fastest growing in the global electronics industry. I expect Francois and Thierry to maintain our leadership and expand our presence and influence in regions that are strategic to our future success, " said Alain Dutheil, Chief Operating Officer of STMicroelectronics . "I would also like to take this opportunity to thank Jean-Claude Marquet for his long-term dedication to the company and his significant contribution to its success today." ST 's emerging market region covers several prosperous countries in four continents, including Brazil, India and Russia. As a semiconductor supplier with a wide product line, a complete system solution provider, with a deep corporate culture of cooperation and win-win, and a long history of regional diversification, ST is able to combine the special conditions of each country to effectively serve and stimulate the development of the electronic market of all industries in emerging economies. The company's sales in emerging markets in 2005 were approximately US$ 600 million. Since starting operations in the Asia-Pacific region 37 years ago , ST has become a major player in the world's fastest growing regional semiconductor market. ST has established a strong and integrated business network in the Asia-Pacific region, working with major local players to boost sales and business growth in the countries where they operate, particularly in the communications and automotive markets. According to the latest market report, ST 's 2005Asia PacificWith sales of approximately US$ 4.1 billion, it is the fourth largest semiconductor company in the Asia -Pacific region.NoIncluding Greater China sales of approximately US$ 1.8 billion in 2005 . About STMicroelectronics ( ST ) STMicroelectronics is a world-class leader in the development and supply of semiconductor solutions for microelectronics applications. The perfect combination of silicon and system technology, strong manufacturing capabilities, a broad intellectual property portfolio (IP) , and strong strategic partnerships have put STMicroelectronics at the forefront of system-on-chip (SoC) technology. In today's trend of achieving technological integration, ST 's products play an important role. The company's shares are listed on the New York Stock Exchange, the Euronext Stock Exchange in Paris, and the Milan Stock Exchange. In 2005 , the company's net income was US$ 8.88 billion and its net profit was US$ 266 million. For more information, please visit the ST website: www.st.com or the ST Chinese website www.stmicroelectroni