The CEO of ST-Ericsson is resigning his post following continued struggles with joint venture partner STMicroe...
Didier Lamouche took on the role in 2011, but failed to ignite passions of either partner or bring sales up to scratch, with the firm’s fourth quarter reporting income at a loss of $169m.
He will leave ST-Ericsson on 31 March 2013 to “pursue other opportunities”. No replacement has been announced.
Hans Vestberg, chairman of the board of directors at ST-Ericsson, said: "Didier Lamouche came into ST-Ericsson when the company was in a very challenging situation, and has been instrumental in bringing the company to the point where it is more focused on strategy execution, a much lower break-even point and positive momentum where the new LTE modem-based products are ready for market introduction this year.
“On behalf of ST-Ericsson's board, I thank Didier for his strong contribution to ST-Ericsson."
STMicroelectronics confirmed it was exiting the partnership in December, which sees the two companies build mobile and wireless semiconductors, but Ericsson does not want to take on the ailing business either, leaving the future of the firm in question.
The business had originally been a success, thanks to large orders from Finnish phone manufacturer Nokia, but as sales have plummeted for the mobile maker, so has the necessity for chipsets.