STMicroelectronics announces restructuring plan, effective in 2024

Chip giant STMicroelectronics (ST) recently announced a major restructuring plan, which will take effect on February 5, 2024. Through this restructuring, the company will adjust from three product divisions to two, namely the Analog, Power & Discrete, MEMS and Sensor (APMS) Division and the Microcontroller (MCU), Digital Integrated Circuits and Radio Frequency Products (MDRF) Division. At the same time, Marco Monti, former president of ST's automotive and discrete products group, will leave. At the same time, the company will establish new marketing departments focusing on terminal market applications in all regions to improve the existing sales and marketing organizational structure.