After he was outed last week for being a tipster in the Galleon insider trading case, former AMD (AMD) CEO Hector Ruiz has stepped down as CEO Chairman of GLOBALFOUNDRIES.
SUNNYVALE, Calif.–(BUSINESS WIRE)–Hector Ruiz, chairman of the GLOBALFOUNDRIES board of directors, will take a voluntary leave of absence effective immediately before resigning from the company in January, the company’s board announced today. Dr. Ruiz had submitted his resignation in September with an effective date of January 4th, 2010.
He will be replaced by Alan E. “Lanny” Ross, who will serve as interim chairman, effective immediately, until a permanent chairman has been appointed by the board.
Ross, a current member of the GLOBALFOUNDRIES board, was previously president and CEO of Broadcom. He also served in high-level executive positions with Rockwell Automation, National Semiconductor, Fairchild Semiconductor and the Worldwide Semiconductor Manufacturing Corporation.
Established in March 2009, GLOBALFOUNDRIES is jointly owned by AMD and the Advanced Technology Investment Company (ATIC). The members of the GLOBALFOUNDRIES board of directors are:
- Hani Barhoush, Executive Director, Acquisitions, Mubadala Development Company
- Maurizio La Noce, Executive Director, Mubadala Energy & Industry
- Giuliano Meroni, Corporate Vice President, President EMEA, AMD
- Bob Palmer, former CEO, Digital Equipment Corporation and AMD board member
- Bob Rivet, Chief Operating and Administrative Officer, AMD
- Lanny Ross, former Chief Executive Officer, Broadcom
- Barry Waite, former Chief Executive Officer, Chartered Semiconductor
- Katy Wells, Corporate Vice President, Staff Operations and Corporate Secretary, AMD