According to core news, on January 10, STMicroelectronics (ST) announced that it will undergo a reorganization, which will take effect on February 5, 2024.
Through this reorganization, the company will transition from three product divisions to two product divisions (APMS and MDRF), further improving product development innovation and efficiency as well as time to market. And Marco Monti, former president of ST's automotive and discrete products group, will also leave the company.

The two new product groups will be:
The Analog, Power & Discrete, MEMS & Sensors (APMS) segment will be led by ST President and Executive Committee Member Marco Cassis;
Microcontrollers (MCUs), Digital Integrated Circuits and Radio Frequency Products (MDRF) are led by ST President and Executive Committee Member Remi El Ouazzane.

ST President and CEO Jean-Marc Chery said that this organizational structure reform is in line with ST's commitment to speed up time to market, strengthen product development innovation and improve operational efficiency.
In addition, ST said that to complement the existing sales and marketing organization, a new application marketing organization will be implemented in all ST regions, which will provide ST customers with end-to-end system solutions based on the company's product and technology portfolio.
The applied marketing organization will cover the following four end markets: automotive, industrial power and energy, industrial automation, IoT and artificial intelligence, personal electronics, communications equipment and computer peripherals. ST President and executive committee member Jerome Roux will lead the organization.
According to earlier forecasts, STMicroelectronics’ fourth-quarter revenue was US$4.3 billion, down approximately 3% year-on-year and quarter-on-quarter; its gross profit margin is expected to be approximately 46%. Throughout 2023, STMicroelectronics expects revenue to be US$17.3 billion, a year-on-year increase of 7.3%, with a gross profit margin of approximately 48.1%. The formal financial report will be released on January 25.

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Introduction: STMicroelectronics (ST) Group was established in 1987 by the merger of Italy's SGS Microelectronics and France's Thomson Semiconductor. In May 1998, SGS-THOMSON Microelectronics changed its company name to STMicroelectronics Co., Ltd. STMicroelectronics is one of the world's largest semiconductor companies. STMicroelectronics has three major business divisions (soon to be adjusted to two divisions): automotive and discrete devices; analog devices, MEMS and sensors; microcontrollers and digital IC.
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