--- title: "STMicroelectronics proposes one more year for CEO Chery as the stock sinks 10% below its buyback price" description: "The supervisory board wants shareholders in 2027 to keep Jean-Marc Chery for one more year, after granting him three years in 2024. ST is still up 97% in 2026, but a five-day chip rout has left the stock below every price the company paid in its own buyback last week." publisher: "The Inference" section: "Silicon" published: 2026-10-13T15:31:40.784Z modified: 2026-10-13T15:31:40.784Z canonical: https://theinference.org/article/stmicroelectronics-proposes-one-more-year-for-ceo-chery-as-the-stock-sinks-10-below-its-buyback-price language: en keywords: "STMicroelectronics, Semiconductors, CEO Succession, Buybacks, Stocks" --- # STMicroelectronics proposes one more year for CEO Chery as the stock sinks 10% below its buyback price > The supervisory board wants shareholders in 2027 to keep Jean-Marc Chery for one more year, after granting him three years in 2024. ST is still up 97% in 2026, but a five-day chip rout has left the stock below every price the company paid in its own buyback last week. ## A one-year ask on a five-percent morning Jean-Marc Chery's Tuesday began with a rout. [A global chip sell-off knocked about 5% off STMicroelectronics at the European open](https://www.cnbc.com/2026/10/13/sk-hynix-softbank-samsung-electronics-shares-tech-stocks-fall.html) [1]. Into that tape came four paragraphs from Geneva: the supervisory board has asked Chery, ST's president and chief executive, to stay on for one more year. He accepted, and shareholders will vote at the 2027 annual general meeting [2]. ## One year now, three years last time The length is the news. Shareholders reappointed Chery in May 2024 for a three-year term expiring at the 2027 meeting [3]; the renewal now proposed runs twelve months [2]. He runs a Franco-Italian chipmaker in which the French and Italian states jointly own 27.5%, and Italy's economy minister last year cited "criticism and opposition" toward him before the sides settled their differences [4]. [The company calls the decision a recognition of continuity, execution discipline and momentum](https://www.globenewswire.com/news-release/2026/10/13/3379305/0/en/stmicroelectronics-to-propose-the-reappointment-of-jean-marc-chery-as-president-ceo.html) [2]. ## ST paid more for its shares than the market now will Between October 5 and 9, a broker for ST [bought 346,538 of its own shares on Euronext Paris at a weighted average of €49.2425, spending €17.1 million to cover employee share plans](https://finance.yahoo.com/markets/stocks/articles/stmicroelectronics-announces-status-common-share-120000734.html) [5]. By Tuesday afternoon the market said €44.21, down 2.97% on the day and 14.93% over five days, though still up 97.13% since January [6]. That sits about 10% below the company's average purchase price, and below every daily price it paid. The board signs its commitments in years; the market reprices them in days. *Chart: **Every price ST paid for its own shares last week sits above the Tuesday tape** Bar chart of ST's daily buyback purchase prices from October 5 to 9, 2026, and the October 13 market price, in euros per share* *Weighted average purchase price per share for ST's brokered buybacks on Euronext Paris, October 5 to 9, 2026, against the Euronext Paris price at 13:11 on October 13, 2026. [5][6]* ## Analysts have not moved with the tape Oddo BHF kept its Outperform rating that same morning and trimmed its price target from €72 to €70 [6]. Twenty analysts average a target of $77.28 against a $50.90 close in New York, an implied gain of 51.84%, and even the lowest target, $55.22, clears the tape [7]. The rally has substance too: [June-quarter revenue was $3.49 billion, up 26% year on year, after seven straight quarters of decline](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000932787) [8]. *Chart: **Even the lowest of 20 analyst targets sits above ST's last New York close** Column chart comparing ST's last New York close with the low, average and high analyst price targets, in US dollars per share* *Even the lowest of 20 analyst targets sits above ST's last New York close [7]* ## The buyback is small and the rout is not about ST The week's buying covered 0.04% of issued capital and serves employee share plans rather than any call on value; ST holds 15.9 million treasury shares, about 1.7% of itself [5]. The sell-off is a sector repricing rather than a verdict on ST: China's ChangXin Memory Technologies reported progress on a denser memory design, [Intel](https://theinference.org/markets/companies/intel) and [Broadcom](https://theinference.org/markets/companies/broadcom) chiefs warned that access to capital is the AI boom's next bottleneck, and UBP senior equity advisor Vey-Sern Ling called investors "jittery and looking for excuses to take profit" [1]. ## The quarter answers on October 29 Third-quarter results land before the European open on October 29 [9]. Watch two numbers after the print: whether analysts defend those targets, and whether ST's broker keeps buying at €44 [5]. ## Takeaway STMicroelectronics' board wants Jean-Marc Chery to stay one more year past his 2027 term, a modest ask made the same day the chip rout pushed the stock about 10% below every price the company paid buying back its own shares last week. Analysts' targets and a 26% revenue rebound say the fundamentals held; the October 29 quarter will show whether the tape agrees. ## Sources 1. [CNBC, "Micron, SoftBank and ASML slide as Wall Street chip rout spreads", 13 October 2026](https://www.cnbc.com/2026/10/13/sk-hynix-softbank-samsung-electronics-shares-tech-stocks-fall.html) 2. [STMicroelectronics press release via GlobeNewswire, "STMicroelectronics to propose the reappointment of Jean-Marc Chery as President & CEO", 13 October 2026](https://www.globenewswire.com/news-release/2026/10/13/3379305/0/en/stmicroelectronics-to-propose-the-reappointment-of-jean-marc-chery-as-president-ceo.html) 3. [STMicroelectronics press release via Seeking Alpha, "All resolutions approved at the 2024 STMicroelectronics' Annual General Meeting of Shareholders", 22 May 2024](https://seekingalpha.com/pr/19734169-all-resolutions-approved-at-the-2024-stmicroelectronics-annual-general-meeting-of) 4. [Reuters via AOL, "STMicroelectronics seeks one-year renewal for CEO Chery", 13 October 2026](https://www.aol.com/articles/stmicroelectronics-seeks-one-renewal-ceo-051207000.html) 5. [STMicroelectronics disclosure via Yahoo Finance, "STMicroelectronics announces status of common share repurchase program", 12 October 2026](https://finance.yahoo.com/markets/stocks/articles/stmicroelectronics-announces-status-common-share-120000734.html) 6. [Zonebourse, "STMicroelectronics N.V. (STMPA, Euronext Paris) live quote and Oddo BHF note", 13 October 2026](https://www.zonebourse.com/actualite-bourse/stmicroelectronics-oddo-bhf-reste-a-surperformance-avec-un-objectif-de-cours-reduit-de-72-a-70-eur-ce785dddda81f620) 7. [Zonebourse, "Consensus STMicroelectronics N.V. (STM)", 13 October 2026](https://www.zonebourse.com/cours/action/STMICROELECTRONICS-N-V-111961623/consensus/) 8. [STMicroelectronics, quarterly figures from its SEC filings, retrieved 13 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000932787) 9. [STMicroelectronics press release via Markets Insider, "STMicroelectronics announces timing for third quarter 2026 earnings release and conference call", 5 October 2026](https://markets.businessinsider.com/news/stocks/stmicroelectronics-announces-timing-for-third-quarter-2026-earnings-release-and-conference-call-1036596041) --- STMicroelectronics proposes one more year for CEO Chery as the stock sinks 10% below its buyback price — The Inference. Canonical: https://theinference.org/article/stmicroelectronics-proposes-one-more-year-for-ceo-chery-as-the-stock-sinks-10-below-its-buyback-price