STMicroelectronics said the board will seek a one-year renewal for CEO Jean-Marc Chery at the 2027 annual general meeting. The company said, "The decision recognises the importance of continuity in ST’s strategy." Chery will continue his roles despite past pressure from Italy and France regarding his leadership at the firm.
The Franco-Italian chipmaker said the board would put the one-year renewal to shareholders for approval at the 2027 annual general meeting. Chery would continue as the chairman of the managing board and as president and CEO.
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"The decision recognises the importance of continuity in ST’s strategy, discipline in execution and the momentum achieved under Chery’s leadership," the company said in a statement.
Chery has faced pressure from Italy, which together with France owns 27.5% of STMicro. Last year, Italy’s economy minister cited "criticism and opposition" towards him, though the sides later sought to settle their differences.