Reported about 11 hours ago
STMicroelectronics has declined a request from the Italian government to allow shareholders to vote on the appointment of Marcello Sala to its supervisory board. Despite the combined 27.5% stake owned by the Italian and French governments, the board refused to convene an extraordinary general meeting, standing by CEO Jean-Marc Chery amidst ongoing dissatisfaction from Italy regarding leadership. The annual general meeting on May 28 will include a vote on another candidate, Simonetta Acri, but it's too late to alter the agenda for Sala's vote.
Source: YAHOO