Statement from STMicroelectronics Supervisory Board
Rhea-AI Summary
STMicroelectronics Supervisory Board has issued a statement addressing recent Italian press allegations and company developments. The Board refuted accusations regarding personal transactions by Managing Board members, clarifying that stock sales during blackout periods were conducted automatically by the plan administrator to comply with Swiss tax regulations.
The Board expressed confidence in the company's defense against an ongoing class action. Additionally, they unanimously approved a strategic manufacturing transformation program, focusing on expanding 300mm silicon and 200mm silicon carbide wafer-fab capacity, as previously announced on October 31st, 2024, and January 30th, 2025.
The Supervisory Board reaffirmed its support for Jean-Marc Chery, Lorenzo Grandi, and the management team in executing this transformation during challenging industry conditions.
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News Market Reaction – STM
On the day this news was published, STM declined 12.36%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PR No: C3329C
Statement from STMicroelectronics Supervisory Board
Amsterdam, April 10, 2025 – The Supervisory Board of STMicroelectronics N.V. wishes to make 3 comments on statements made in the Italian press on April 9th:
Accusations on the personal transactions made by the 2 members of the Company’s Managing Board on the eve of earnings releases are false. Stock sales done during the Company’s blackout period were made by the Company’s stock plan administrator, through an automatic procedure, to abide by Swiss tax rules for the Managing Board members and were legal and compliant with Company policy. On the class action under way, the Supervisory Board reviewed the processes and believes that the Company has good defense against the allegations.
The Supervisory Board unanimously approved the details of a Company-wide program to reshape the Company’s manufacturing footprint, accelerating ST’s wafer-fab capacity to 300mm silicon and 200mm silicon carbide, announced to the markets last year on October 31st and this year on January 30th. This plan allows for a major improvement of the competitiveness of the Company.
The Supervisory Board expresses its renewed support to Jean-Marc Chery, Lorenzo Grandi, and the management team, notably in their capacity to execute the transformation during challenging times for the semiconductor industry.
About STMicroelectronics
At ST, we are 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our
For further information, please contact:
INVESTOR RELATIONS
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41.22.929.59.20
jerome.ramel@st.com
MEDIA RELATIONS
Alexis Breton
Corporate External Communications
Tel: +33.6.59.16.79.08
alexis.breton@st.com
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FAQ
What allegations did STM address regarding stock sales during blackout periods?
What manufacturing changes did STM's Supervisory Board approve in 2025?
How is STM responding to the ongoing class action lawsuit?
When did STM first announce its wafer-fab capacity expansion plans?
What position did STM's Supervisory Board take on its management team?
