STMicroelectronics : alternating franco-Italian

Chronic. We use these chips hundreds of times per day, but their manufacturer remains in the shadows. The general public cares little about the fate of STMicroelectronics, and yet it is the first electronics company in French and the only one in the CAC 40. Its stock market value, from 17 billion euros, which exceeds that of Bouygues, PSA or Carrefour. His specialty chips for smartphones and automobiles, does not attract the light. The transfer of power announced Thursday, January 25 between its chairman of the management board present, Carlo Bozotti, and his successor, Jean-Marc Chery, carried out without noise.

This company of 40,000 workers and a $ 8.3 billion (6.6 billion euros) in revenue sharing with Airbus for the privilege to be controlled by two european States, France and Italy. Where the legal structure of baroque, close to that of the aircraft manufacturer, with a status of Dutch law, registered office in Switzerland and reported results in us dollars.

Like Airbus, it is the fruit of a compromise subtle, born in 1987, of the marriage of two small european competitors, the French Thomson Semiconductors and the Italian SGS. The two countries, controlling 27.5% of capital at the two of them, are not willing to let go of the reins of one of the last european manufacturers of components for electronic face of american hegemony and asian.

Brawl hushed

As was the case with the company’s aerospace, its governance is largely complicated by the need to balance between the interests of the two nations. Matter of geography, employment and sovereignty. This does not bode well in terms of good management. Maintenance, see duplicate sites whose locations are as much the result of concern land use as industrial efficiency.

No wonder, therefore, that the question of the appointment of the pattern boils down to a test of strength, the franco-Italian. In 2016, after six years of…

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