COPPELL, Texas, Oct. 7 /PRNewswire/ -- STMicroelectronics (NYSE: STM), one of the world's leading semiconductor manufacturers and a pioneer in corporate responsibility, announced the renaming of an endowed scholarship fund in honor of retired executive Robert L. Banks. The scholarship, originally in the name of STMicroelectronics, was established in 2007 to benefit students at Stephen F. Austin University's Arthur Temple College of Forestry and Agriculture.
Robert (Bob) Banks, a 39-year Quality-Management veteran at STMicroelectronics until his retirement in 2010 and a native of Rusk, Texas, was an internal champion of the benefits of reforestation. Bob pioneered the US portion of ST's global reforestation project and was intimately involved with identifying and purchasing lands suitable for reforestation of Loblolly Pine and various hardwoods in East Texas. By 2004 almost 3,500 acres of trees had been planted under Bob's watchful eye.
"There is no one more deserving of this recognition than Bob for his tireless efforts and demonstrable achievements in the area of environmental sustainability. Proudly, the Robert L. Banks scholarship is evidence that ST's environmental strategy still produces considerable savings, reinforcing our conviction that 'ecology is free.' Case in point, this scholarship is fully funded by a portion of the revenues from the sale of harvested timber and hunting leases on the donated land," said Robert Krysiak, Executive Vice President of STMicroelectronics and General Manager of STMicroelectronics' Americas Region.
STMicroelectronics' reforestation project achieves carbon sequestration while maintaining a sustainable healthy forest, contributing to the preservation of biodiversity, avoiding the loss of soil and natural habitats, and supporting research and educational advancements in reforestation and carbon sequestration. Globally, ST supports ongoing reforestation projects on more than 23,000 acres and has planted more than 10 million trees in the US, Italy, Morocco and Australia. In 2009, total CO2 sequestered through ST's entire reforestation programs compensated for 70% of ST's direct CO2 emissions (scope 1 of the Greenhouse Gases Protocol). The Company expects to reach carbon neutrality for its direct emissions in 2012.
Steven H. Bullard, Dean of the Arthur Temple College of Forestry and Agriculture at Stephen F. Austin State University in Texas, stated, "We planted the first trees in 2004, and now Bob, my students and I have seen the success of this project. Students are collecting CO2 sequestration data, researching undergrowth patterns, conducting aerial monitoring and measuring forest growth. Thanks to STMicroelectronics' vision and Bob's dedication, the donated lands are utilized for research and educational purposes, and are also providing the funds for much needed scholarships for the next generation of stewards of the land."
For a copy of ST's Corporation Responsibility Report describing all of the Company's efforts in Sustainable Excellence and Social Responsibility, please visit http://www.st.com/stonline/company/cr/2009/index.htm.
About Robert L. Banks
In 2010, Bob retired as Vice-President of Quality for the Americas Region, where he was responsible for assuring that all of the ST resources, systems, and methods were efficiently focused on serving the customer. Bob was a constant "voice of the customer" and leader in establishing company systems compliant with ISO/QS9000, the most stringent of customer requirements. He was a guide, evangelist and contributor in ST's TQM journey of continuous improvements in process designs, statistical process control, management-to-employee Cascade training and empowerment, and the quest for excellence through the benchmark criteria of the Malcolm Baldrige Award, which ST was awarded in 1999.
Bob holds a Bachelors of Science in Electrical Engineering from Southern Methodist University, and Masters of Business Administration studies at the University of Dallas. He resides in Richardson, Texas with his wife Martha.
STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. In 2009, the Company's net revenues were $8.51 billion. Further information on ST can be found at www.st.com.