STMicroelectronics NV (STM) announced changes in its global sales and marketing organization. The move, which will be effective January 1, 2010, will consolidate ST’s regions in Asia to two: Greater China & South Asia, Japan & Korea.
The Greater China and South Asia region will be led by Corporate Vice President Francois Guibert, who has guided ST’s efforts in the Asia/Pacific region since June 2006. Under his direction, ST’s revenues in the region has increased more than 10%* in a declining market. Within this region, ST’s headquarters for sales and marketing will be based in Shanghai, while the company will keep its manufacturing headquarters in Singapore.
The Japan and Korea region will be led by Corporate Vice President Marco Cassis, currently the head of ST Japan. Moving from Greater China to the Americas, Corporate Vice President Bob Krysiak will lead ST’s efforts to expand into Central and South America and continue to increase market share in North America.
ST’s worldwide sales and marketing initiatives focus on key global challenges and market trends.
ST Ericsson, the maker of mobile phone chips, on Thursday said was planning to cut up to 600 more jobs – 7.5 per cent of its workforce – in an effort to make an additional $115m in annual savings. It will be the third round of restructuring and lay-offs that the loss-making company has announced in the past year. Created by combining the wireless chip operations of three companies – LM Ericsson Telephone Co. (ERIC), STMicroelectronics and NXP Wireless – the company announced 500 staff cuts in November to save $250m and a further 1200 redundancies in April with an aim to saving $230m a year.
STMicroelectronics N.V., an independent semiconductor company, together with its subsidiaries, designs, develops, manufactures, and markets semiconductor products used in various microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation, and control systems. Major competitor is Texas Instruments Inc. (TXN).
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