GENEVA - STMicroelectronics (NYSE: STM), a prominent semiconductor company, announced a significant reorganization of its structure, set to take effect on February 5, 2024. The Geneva-based firm aims to enhance its product development, innovation, efficiency, and customer engagement by consolidating its product groups and intensifying its market-focused application marketing.
The company will transition from three to two product groups to streamline operations and accelerate time-to-market. The new groups are the Analog, Power & Discrete, MEMS, and Sensors (APMS) group, led by Marco Cassis, and the Microcontrollers, Digital ICs, and RF products (MDRF) group, headed by Remi El-Ouazzane. Both leaders are ST Presidents and members of the Executive Committee. APMS will include two reportable segments: Analog products, MEMS, and Sensors (AM&S); and Power and Discrete products (P&D). Similarly, MDRF will be divided into Microcontrollers (MCU); and Digital ICs and RF Products (D&RF).
Additionally, the company is enhancing its customer focus with a new application marketing organization that will work across all ST regions. This effort is designed to provide customers with comprehensive system solutions tailored to specific end markets, including Automotive, Industrial Power and Energy, Industrial Automation, IoT and AI, as well as Personal Electronics, Communication Equipment, and Computer Peripherals. Jerome Roux, ST President and member of the Executive Committee, will lead this integrated sales and marketing initiative.
This restructuring follows the business and financial goals set by STMicroelectronics in 2022, reflecting the company's strategy to maximize the value from its diverse product and technology portfolio. Concurrent with these changes, Marco Monti, ST President of the former Automotive and Discrete Product Group, will depart from the company.
STMicroelectronics, with a workforce of over 50,000, serves a broad spectrum of electronics applications and is committed to becoming carbon neutral across various scopes by 2027. The company's technologies are pivotal in enabling advancements in smart mobility, power and energy management, and the deployment of autonomous systems.
The information for this article is based on a press release statement from STMicroelectronics.
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