Comms chips

ST-Ericsson CEO Quits

GENEVA -- Following the STMicroelectronics' announcement issued earlier today, ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC), announced today that Didier Lamouche, president and chief executive officer, has decided to resign from the Company to pursue other opportunities. Hans Vestberg, Chairman of the ST-Ericsson's board of directors, said: "Didier Lamouche came into ST-Ericsson when the company was in a very challenging situation and has been instrumental in bringing the company to the point where it is more focused on strategy execution, a much lower breakeven point and positive momentum where the new LTE modem-based products are ready for market introduction this year. On behalf of ST-Ericsson's board, I thank Didier for his strong contribution to ST-Ericsson." Lamouche will remain in his current position until March 31, 2013. ST-Ericsson
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