Tension between Chigi and Paris over Chery's confirmation as head of STM
New front of tension between Italy and France. In particular, Palazzo Chigi's sights would be on the “Frenchisation” process of STMicroeletronics. According to Repubblica, “the Meloni government sent the notice to Paris, claiming to be against a new three-year mandate for CEO Jean-Marc Chery. Italy blames him, who since 2018 has led one of the major European groups in the chip field, of having moved the center of gravity beyond the Alps”.
Chip production is a highly strategic sector and Italy already has to lick its wounds over Intel's refusal to operate in our country. STM remains one of the few assets available in the sector, but according to Palazzo Chigi the center of gravity has increasingly shifted towards France. In particular, writes Repubblica, “Palazzo Chigi did not like Chery's decision to reduce STM's divisions from two to three for reasons of efficiency, eliminating the Automotive and Discrete Product unit, managed by Marco Monti and full of managers Italians”.
According to Bloomberg, the choice is not understood by the Italian government which has 50% of STMicroelectronics Holding together with the French state bank Bpifrance.
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