On January 10, STMicroelectronics announced the restructuring of its product division, effective February 5, 2024. With this reorganization, the company will transition from three product divisions to two product divisions (APMS and MDRF) and the departure of Marco Monti, former president of ST's Automotive and Discrete Products Group, will also leave the company.
The two new product groups will be:
1.Analog, Power & Discrete, MEMS & Sensors (APMS)., led by Marco Cassis, President of ST and member of the Executive Committee; The product group will include all ST analog products, including automotive smart power solutions; All ST power and discrete product lines, including silicon carbide products; MEMS and sensors. APMS will include two reportable segments: Analog Products, MEMS, and Sensors (AM&s); Power and discrete products (P&D).
2.Microcontrollers, digital ICs, and radio frequency products (MDRF).Led by Remi El-Ouazzane, President of ST and member of the Executive Committee. The product group will include all ST digital ICs and microcontrollers, including automotive microcontrollers; RF, ADAS, Infotainment ICs. The MDRF will include two reportable divisions: microcontrollers (MCUs); Digital ICs and RF products (D&RF).
In parallel with this new organization, Marco Monti, president of the original Automotive and Discrete Products Group, will leave the company.
In addition, the company is implementing an app marketing organization through the end market in all ST regions as part of a sales and marketing organization led by Jerome Roux. The app marketing organization will cover the following four end markets: automotive; Industrial Power & Energy; industrial automation, Internet of Things and artificial intelligence; Personal electronics, communication equipment, and computer peripherals. The current regional sales and marketing organization remains unchanged.
Jean-Marc Chery, President and CEO of STMicroelectronics, said, "We are reorganizing our product group to further accelerate time-to-market and product development innovation and efficiency. This will allow us to extract more value from our broad and unique portfolio of products and technologies. In addition, we have established an application marketing organization through end markets that will strengthen our ability to complement our products with integrated system solutions. This is an important step in the development of our established strategy, in line with our value proposition to all our stakeholders and in line with the business and financial goals we have set in 2022. ”
This organizational restructuring is a reflection of ST's active response to market changes and a strategic deployment for future development. By integrating resources and improving synergies, ST is expected to remain competitive in the fierce market competition and achieve more sustainable development.