- STMicroelectronics (STM, Financial) defends stock sales during blackout periods, ensuring compliance with Swiss tax laws.
- The company receives unanimous approval for expanding manufacturing capabilities in silicon and silicon carbide wafers.
- The Supervisory Board reaffirms its support for the management team amidst ongoing industry challenges.
STMicroelectronics N.V. (STM) has publicly addressed recent allegations made by the Italian press concerning personal transactions by members of its Managing Board. In a statement, the Supervisory Board clarified that stock sales conducted during blackout periods were performed automatically by the company's stock plan administrator. This process complied with Swiss tax regulations, ensuring all transactions were legal and in line with company policy.
In addition, the Supervisory Board of STM has also given its unanimous approval to a strategic transformation program aimed at enhancing the company’s manufacturing footprint. This initiative will focus on accelerating the company's wafer-fab capacity for 300mm silicon and 200mm silicon carbide, as initially outlined in announcements on October 31st, 2024, and January 30th, 2025.
Amidst industry-wide challenges, the Board has expressed renewed confidence in the leadership of Jean-Marc Chery, Lorenzo Grandi, and their management team. They are charged with spearheading this strategic transformation, which is poised to significantly boost the competitiveness of STM in the semiconductor market.
STMicroelectronics continues to focus on sustainable practices and its commitment to achieving 100% renewable electricity sourcing by the end of 2027, alongside its efforts in smarter mobility and efficient energy management. For more information about the company and its initiatives, visit their official website.
