From StockTwits: 2025-02-26 11:04:16

Italian officials are reportedly seeking to replace STMicroelectronics NV CEO Jean-Marc Chery due to “insufficient” performance, causing shares to drop over 2%. Chery has been criticized for failing to navigate the company through industry challenges, with shares declining more than 40% in the past year. Italy and France, who jointly hold a stake in STMicro, view the company as a strategic asset. While Italian officials are pushing for a leadership change, they may lack the authority to unilaterally replace Chery. Retail sentiment around STMicro’s stock shifted to ‘bullish’ following the news, with investors expressing concerns about the company’s future amid declining demand for semiconductors.



Read more at StockTwits: STMicro Stock Slides As Italy Reportedly Pushes for CEO’s Exit: Retail Traders Turn Cautious