ST(US:STM) Shang Wu Bu Wang Zhan·2025-04-24 16:08Group 1 - The core issue between France and Italy revolves around the management of STMicroelectronics, with both countries being major shareholders and the company planning voluntary layoffs of 2,800 employees [1][2] - The supervisory board rejected the appointment of Marcello Sala, an Italian nominee, due to his public and private criticisms of CEO Thierry and his strategy, especially in light of a projected 63% decline in net profit to $1.56 billion and a 23.3% drop in sales to just over $13 billion for fiscal year 2024 [1] - Italy's Finance Minister Giorgetti expressed that the rejection of Sala's nomination is incomprehensible and unacceptable, highlighting the strong stance of Italy as a major shareholder [1] Group 2 - The supervisory board of STMicroelectronics reiterated its support for the CEO and management team, emphasizing their capability to execute the company's transformation during challenging times in the semiconductor industry [2] - The company has outlined a roadmap for the coming years, focusing on efficiency improvements through automation and artificial intelligence, while planning for up to 2,800 voluntary departures globally over three years without closing any factories [2] - STMicroelectronics aims to increase production in the coming years to maintain its competitiveness on a global scale, with a workforce of 50,000 employees, including 11,500 in France [2]