STMicroelectronics proposes a one-year extension for CEO Jean-Marc Chery
- STMicroelectronics (STM) said on Tuesday its supervisory board would propose reappointing Jean-Marc Chery as president and chief executive officer for another year at the company's 2027 annual general meeting.
- Chery, who currently leads the semiconductor maker, has accepted the proposal, the company said in a statement.
- The proposed reappointment is intended to maintain continuity in the company's strategy and execution, STMicroelectronics said.
- STM down 2.2% in premarket trading.
- STMicroelectronics was created in 1987 by the merger of a French semiconductor company and an Italian semiconductor company. The governments of each country hold a stake in STMicroelectronics, which is run by CEO and President Jean-Marc Chery.
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