STMicro board wants to replace CEO, has short-list of candidates

Reuters News
Posted: Apr 14, 2016 12:23 PM

PARIS (Reuters) - The board of Franco-Italian chipmaker STMicroelectronics has decided to replace its current chief executive Carlo Bozotti, a source close to the matter told Reuters on Thursday.

"The process has been launched and there is a short-list of potential successors," the source said.

An STMicroelectronics spokesman declined to comment on questions regarding any change of management.

Carlo Bozotti’s current employment contract expires in May 2017. Bozotti, 64, has held the position of CEO at STMicroelectronics since March 2005.

(Reporting by Mathieu Protard; Eric Auchard; writing by Michel Rose, Matthias Blamont. Editing by Marc Joanny and Jane Merriman)