Globalfoundries Appoints New Chief Executive, Chairman

From X-bit Labs: Globalfoundries, a leading contract maker of semiconductors controlled by Advanced Micro Devices and Advanced Technology Investment Company, on Thursday announced the appointment of new leaders. Doug Grose, a former manufacturing chief at AMD, will leave his CEO post at GF and will be temporarily replaced by Ajit Manocha, a former advisor to ATIC. In addition, the company appointed chairman and vice chairman.

Ajit Manocha has been appointed interim chief executive officer of Globalfoundries. James A. Norling will serve as executive chairman and Ibrahim Ajami (the chief executive of ATIC) will serve as vice chairman of the Globalfoundries board of directors. All appointments are effective immediately. The move by Globalfoundries is quite surprising, given the fact that the company currently does not have a replacement for CEO.

Doug Grose, who has served as CEO of Globalfoundries since its inception, will transition to become senior advisor to Globalfoundries and ATIC with a focus on technology leadership and ensuring delivery of next generation technologies for competitive differentiation. Chia Song Hwee, chief operating officer, will remain with the company in that position until August 2011, when he will return to be part of Singapore’s business future.

One of the reasons why Globalfoundries might fire Mr. Grose is delays with the ramp up of 32nm silicon-on-insulator process technology, which forced GF to sign a new wafer purchase agreement with AMD under which the latter pays only for working chips, not for the whole wafer.

“Doug Grose and Chia Song Hwee formed the foundation of Globalfoundries, bringing together the world’s leading-edge manufacturing technology with the heritage of a full-service foundry partner. This new leadership team will build on that foundation, as we increase investment in technology, capacity and talent while optimizing performance,” said James Norling, the chairman of Globalfoundries.

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