STM reconfirms Jean-Marc Chery as CEO

In anticipation of the STM shareholders’ meeting, the management board has renewed its confidence in the current CEO, Jean-Marc Chery, proposing his re-appointment for a further three-year term. The decision was made despite the recent tension that arose at the political level, with the Italian government expressing doubts about the re-certification of Chery, assuming a bias towards France from the point of view of investment and management of the company.

This concern arose following STM’s choice of Grenoble for a new production site, financially supported by a contribution of 2.9 billion euros from the French government under the Chips Law. This initiative raised questions about the balance of Italy’s presence in the semiconductor corporate structure . giant

Despite this, the management board evaluated Chery’s performance positively, and emphasized the need for his special skills and his effective performance in the company’s leadership since his appointment in 2018. The recognition of Chery’s management and strategic capabilities is clear, who led the company through the path of growth and integration in the global semiconductor market.

The outlook of industry analysts has also been positive for the reconfirmation of the CEO. Equita, in particular, highlighted that the company’s choice of geographic investment is more influenced by the levels of public subsidies offered by different countries on specific projects, and the desire to maintain adequate supply and not by national preferential trends.

It is important to say that STM is largely owned by STM Holding, which owns 27.5% of the capital. The latter is jointly controlled by the Italian and French governments, a structure that places the company at the center of national strategic interests.

The shareholders’ meeting scheduled for May 22, 2023 in Amsterdam will therefore not only represent an opportunity to confirm Chery’s leadership, but also to emphasize the future strategies of the Italian-French giant in the high-tech sector that represents an important element in the world economy. and international competition.