After the veto at the appointment of Sala, Minister Giorgetti goes to the attack: “From now on criticizes and opposition to this management”. At Mimit, meanwhile, STM confirms investments in Italy and the no to layoffs
After the non-appointment of Marcello Sala within the surveillance council of Stmicroelectronics (STM), the Italian-French company of the semiconductors, the same Council wanted to specify that the non-appointment was not blocked by the French members of the same, but by the three independent members of the Italian-French company. Members who collectively hold the right of veto on appointments, asserted against Marcello Sala.
The “room case”, however, has unnerved the Italian government, also given the bad results of the company (against which one is also underway Class action in the USA). The Italian government now opposes the CEO of STM, Jean-Marc Chery. The Minister of Economy Giancarlo Giorgettispeaking at the end of the Council of Ministers last night, he said: “The position of the Italian shareholder is very clear. And it is evidenced by the management itself that sold the STM actions the day before announcing negative results. We share the judgment that the interested parties and the behavior of the Italian shareholder from now on will be, we say, of criticism and opposition to this management “. In short, you cannot go on, in short.
The response of the surveillance board was not long in coming, who expresses “his renewed support to Jean-Marc Chery, Lorenzo Grandi and managers, especially in their ability to transform into difficult times for the semiconductor industry”.
The company also specified that they would be “false accusations on personal transactions carried out by the two members of the company management council on the eve of the announcement of the results – reads a note – the sales of shares made during the company’s blackout period are made by the administrator of the share plan through an automatic procedure, to comply with the Swiss tax regulations for members of the Management Council. These rules were legal and in compliance with corporate policy ».
The lack of appointment of room would seem to be yet another low blow towards our country, in what for some time now it would seem to have become a strongly unbalanced management towards Paris, despite the non -excelled results since the beginning of the year (on the stock exchange the title has left about 30% of its value), which add up to the halving of the scholarship that occurred during 2024.
The company now runs for cover, and during the table held today at Mimet An announces a “redesign of the production structure in the next three years, the size of the workforce and the set of skills requested will evolve. Based on current projections, the program provides that up to 2,800 people, globally, leave the company on a voluntary basis, in addition to the natural turnover ».
Finally, the surveillance board unanimously approved the details of the company program to redesign the manufacturing structure of the company, accelerating the production capacity of STM at 300mm for silicon and 200mm for silicon carbide, announced at the markets respectively on 31 October last year and on January 30, 2025. This plan, in the hopes of the company, will allow an important improvement in competitiveness. “The overall impact and the solutions used for the implementation of this global program will be substantially equivalent between Italy and France”, said the company, also stressing that “Italy plays a key role in the global strategy of STM, both for research and development, and for production”.
“We know that there have been errors on the products to be developed, perhaps also due to the obvious imbalances in governance, but we are to deal and determine the Italian plan of STM”. This was stated by the Minister of Business and Made in Italy (Mimit), Adolfo Ursoduring the opening of the table on STM al Mimit. Urso stressed that, with the Italian plan, we mean “bringing our country back to the center of the industrial development of a public control multinational, which was born in Italy, in my Sicily, and then became a large European multinational that we share with France in a market logic”.
