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ST Microelectronics announces changes in executive management

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ST Microelectronics has announced the appointment of Carlo Ferro as ST-Ericsson Chief Operating Officer and Mario Arlati as ST Chief Financial Officer.

Previously the Chief Financial Officer, Ferro has accepted to focus on the turnaround of ST-Erricson.

“I’ve been working closely with Carlo in his role as ST’s chief financial officer for the past six years,” said Carlo Bozotti, ST president and chief executive officer. “I am confident that his knowledge, drive for results and determination will play a fundamental role in the turnaround of ST-Ericsson. I would like to thank him for taking on this important assignment.”

Carlo Ferro has been Senior Executive Vice President and Chief Financial Officer of ST Microelectronics since May, 2003. Ferro’s responsibilities have been extended to included investor relations, treasury, corporate communication, and more recently operation planning, procurement and logistics.

Ferro’s achievements with ST Microelectronics includes inspiring and delivering on ST’s strategy of a focused product profile that led to the creation of Numonyx, a merger of ST’s and Intel’s flash memory businesses.

Taking over his position of Chief Financial Officer is Mario Arlati, ST’s Chief Accounting Officer and head of corporate external reporting.

A graduate in Business and Economics at Universita Cattolica in Milan, Arlati started his professional career joining SGS-ATES, a predecessor company of ST Microelectronics.

Arlati has been an integral member of the teams who managed the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs and later, in 1994, ST’s Initial Public Offering on the NYSE and Euronext Paris, which is followed in 1998 by ST’s listing on the Borsa Italiana.

Arlati’s career has covered an extensive amount of responsibilities for ST Microelectronics including accounting, business control, finance and consolidation reporting.

Investor relations, previously part of the CFO organisation, is now under the responsibility of Philippe Lambinet, Corporate Strategy Officer.

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