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March 5th, 2008

Analysis: Are Bozotti's days at ST numbered?

Abstract:
Now that the French government has acquired another 2.85-percent stake in STMicroelectronics NV, a question is being raised: will France try to oust Carlo Bozotti, chairman and CEO of ST, and ask for a French person to take the lead? No, insisted ST's supervisory board in a statement.

But, as when a football club chairman gives backing to the team manager, or a politician gives full support to a colleague, doubts remain.

"Following the speculations that have appeared in the media concerning possible changes in the highest levels of the top management of STMicroelectronics, the supervisory board of the company states that these are without foundation," ST said in a statement issued Tuesday (March 4, 2008).

This follows a report in French magazine LUsine Nouvelle that Thierry Breton, ex-French Minister of Economy, Finance, and Industry (2005 to 2007), might succeed to the position of chairman and CEO of ST. The magazine indeed stated that Thierry Breton could "soon" dethrone Carlo Bozotti and that a board meeting could "soon" take place to ratify his appointment.

Source:
eetimes.com

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