ST-Ericsson CEO Didier Lamouche to step down

BANGALORE, INDIA: ST-Ericsson, a joint venture of STMicroelectronics and Ericsson announced that Didier Lamouche, president and chief executive officer, has decided to resign from the company to pursue other opportunities.

Hans Vestberg, chairman of 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.