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Message: <blockquote data-quote="DXD" data-source="post: 5795219" data-attributes="member: 164550">Globalfoundries chairman Hector Ruiz steps downAMD spinoff Globalfoundries has announced that company Chairman Hector Ruiz has stepped down from his post. The move doesn't come as a surprise, as Ruiz's was allegedly involved in the Galleon Group insider trading scheme.Ruiz is suspected of providing traders with information regarding AMD's manufacturing spinoff plans last year. In late 2009, AMD announced a deal with Abu Dhabi based Advanced Technology Investment Co to create a new joint venture foundry company, which eventually became Globalfoundries. Prior to his tenure at Globalfoundries, Ruiz held a number of posts at AMD and became CEO in 2002. He also spent several years with Texas Instruments and two decades at Motorola, subsequently poaching a number of Motorola execs and bringing them to AMD.For the time being, Ruiz will be succeeded by Alan Ross, until the company decides on a permanent candidate for the post. Ruiz will take a leave of absence immediately, but he will formally leave the company on January 4. Ruiz has not been formally charged in the Galleon Group investigation. <img src="/styles/default/xenforo/smilies/default/growl.gif"  class="smilie" loading="lazy" alt=":growl:" title="Growl    :growl:" data-shortname=":growl:" /><img src="/styles/default/xenforo/smilies/default/growl.gif"  class="smilie" loading="lazy" alt=":growl:" title="Growl    :growl:" data-shortname=":growl:" /></blockquote>

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