* Didier Lamouche to leave end-March
* STMicro has said it will exit joint venture
* Unit faces shutdown or sale in parts
STOCKHOLM/PARIS, March 11 The chief executive of
STMicroelectronics' unprofitable mobile chip-making
joint venture with Sweden's Ericsson will step down
at the end of the month, the companies said on Monday, ahead of
a planned overhaul.
ST-Ericsson said Didier Lamouche, who took over as CEO of
the joint venture in late 2011, was leaving to pursue "other
opportunities." His departure will take effect at end-March.
STMicro has already said it plans to exit the joint venture,
which has not won enough new customers to compensate for a major
drop in business from embattled Nokia. The exit is
set to cost the Franco-Italian chipmaker up to $500 million this
Ericsson, the company's other 50 percent shareholder, has
said it does not want to take over the operation.
Analysts have said ST-Ericsson, which has around 5,000
employees, could be shut down entirely, or parts could be sold
to competitors such as Intel, Broadcom or
A spokesman for STMicro was unavailable for comment.