Latest news with #STMicroelectronics'
Yahoo
4 days ago
- Business
- Yahoo
STMicroelectronics CEO sees signs of market upcycle, to meet Q2 targets
(Reuters) -STMicroelectronics' chief executive said on Wednesday that the French-Italian chipmaker has seen signs of an upcycle — a period of increased market demand — which will boost its results in the coming quarters. Speaking at an event hosted by BNP Paribas, CEO Jean-Marc Chery said STMicro would deliver at least the mid-point of its second-quarter guidance. It had forecast revenue of $2.71 billion at mid-point for the quarter in its last earnings report.
Yahoo
4 days ago
- Business
- Yahoo
STMicroelectronics CEO sees signs of market upcycle, to meet Q2 targets
(Reuters) -STMicroelectronics' chief executive said on Wednesday that the French-Italian chipmaker has seen signs of an upcycle — a period of increased market demand — which will boost its results in the coming quarters. Speaking at an event hosted by BNP Paribas, CEO Jean-Marc Chery said STMicro would deliver at least the mid-point of its second-quarter guidance. It had forecast revenue of $2.71 billion at mid-point for the quarter in its last earnings report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-04-2025
- Business
- Yahoo
STMicro independent board members block appointment of Italy's Sala
By Florence Loeve (Reuters) - Three independent members of STMicroelectronics' supervisory board blocked the appointment of Italian Marcello Sala to the Franco-Italian chipmaker's board, vetoing support from French members, its chairman said on Wednesday. The independent members collectively hold a veto right, Nicolas Dufourcq said in a statement sent to Reuters. "We must respect the decision of the board members not designated by STMicro," he said. Italy proposed the nomination of Sala, head of an economy ministry department that manages state-run firms and asset disposals Italian and French governments own a combined 27.5% share in STMicroelectronics through a holding company. A close aide to Italy's Economy Minister Giancarlo Giorgetti, Sala has played a key role in helping the government deal with some of its most delicate corporate issues. Sign in to access your portfolio
Reuters
09-04-2025
- Business
- Reuters
STMicro independent board members block appointment of Italy's Sala
April 9 (Reuters) - Three independent members of STMicroelectronics' ( opens new tab supervisory board blocked the appointment of Italian Marcello Sala to the Franco-Italian chipmaker's board, vetoing support from French members, its chairman said on Wednesday. The independent members collectively hold a veto right, Nicolas Dufourcq said in a statement sent to Reuters. "We must respect the decision of the board members not designated by STMicro," he said. Italy proposed the nomination of Sala, head of an economy ministry department that manages state-run firms and asset disposals Italian and French governments own a combined 27.5% share in STMicroelectronics through a holding company. A close aide to Italy's Economy Minister Giancarlo Giorgetti, Sala has played a key role in helping the government deal with some of its most delicate corporate issues.
Reuters
27-03-2025
- Business
- Reuters
Italian top government official seen joining STMicroelectronics supervisory board
ROME, March 27 (Reuters) - Italy intends to appoint Marcello Sala, head of an economy ministry department that manages state-run firms and asset disposals, as a supervisory board member at chip maker STMicroelectronics ( opens new tab, three sources said. The company, in which the French and Italian governments own a 27.5% share through a holding company, employs 50,000 people worldwide and has been facing a sustained downturn in its key automotive and industrial markets. The proposed nomination, which once formalised must be ratified by the STMicroelectronics supervisory board and by the shareholders in a general meeting in May, comes as Italy is increasingly unhappy with the group's Chief Executive Jean-Marc Chery, one of the sources said. The three sources familiar with the matter told Reuters the holding company would indicate Sala and Simonetta Acri as members of STMicroelectronics' supervisory board. The supervisory board oversees policies followed by the board of directors and advises it. Sala and Acri are expected to replace Maurizio Tamagnini and Donatella Sciuto, according to the sources, who all asked not to be named. STMicroelectronics declined to comment. A close aide to Italy's Economy Minister Giancarlo Giorgetti, Sala has played a key role in helping the government deal with some of its most delicate corporate issues. He supported the economy ministry as Italy cut its stake in bailed-out bank Monte dei Paschi di Siena ( opens new tab to 11.7% from an original 64% through several share placements, in line with re-privatisation commitments agreed with the European Commission. Current members of the STMicroelectronics supervisory board include Paolo Visca, who was head of staff at Italy's industry ministry when Giorgetti held that job during the government of Prime Minister Giorgia Meloni's predecessor Mario Draghi. The Italian government wants to get a closer look at STMicroelectronics' plan to reduce its workforce as part of a $300 million cost-cutting programme. Italian unions have warned about more than 2,000 job cuts in the country. Giorgetti and Industry Minister Adolfo Urso have summoned representatives from STMicroelectronics and Italian unions on April 3 to discuss the group's prospects in the country. Sala will not resign from his job at the economy ministry in the immediate future, the sources said. He is also among the candidates for the position of chairman at payments group Nexi ( opens new tab, in which state lender Cassa Depositi e Prestiti is a leading shareholder, one of the sources added.
