Delfassy Named ST-Ericsson CEO

STOCKHOLM (AP) -- Gilles Delfassy has been named the new chief executive of ST-Ericsson, the joint venture between Swedish wireless equipment maker LM Ericsson AB and STMicroelectronics, the companies said Wednesday.

Delfassy will replace Alain Dutheil, who will return to his previous role as STMicroelectronics' chief operating officer.

Ericsson said Delfassy, 54, is a "highly-respected expert in the wireless industry" that has worked as an adviser to high-tech companies after a 28-year-career with Texas Industries.

Ericsson also said its incoming chief executive Hans Vestberg will replace his predecessor Carl-Henric Svanberg as chairman of the board of ST-Ericsson.

The chip maker ST-Ericsson was established as a joint venture by STMicroelectronics and Ericsson in February 2009. In the second quarter it reported a loss of $213 million.

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