Industry Expert Blogs
What's In Store For ST-Ericsson?-February 22, 2012 |
ST seems finally to have woken up to the fact that ST-Ericsson is a ticking timebomb which could wreck it.
ST-E has been racking up debt at an alarming rate. So far it's $800m. By the end of the year it'll be $1.7bn if it continues at the current rate. ST is responsible for this debt.
So, yesterday, ST transferred its cost-cutting CFO, Carlo Ferro, to be COO of ST-E.