Ex-AMD CEO Hector Ruiz steps down as Globalfoundries chairman amid insider trading scandal
Posted in: AMD, Today's Chili
We won’t dive back into all the backstory that led to former AMD CEO Hector Ruiz’s current troubles as the chairman of AMD spin-off Globalfoundaries, but let’s just say that when your name is in the same sentence as “insider trading scandal” and “hedge fund probe,” you’re probably in a pretty bad way. While this story is obviously still far from over, it looks like Ruiz has at least realized the gravity of his predicament, and announced today that he’s taking a “voluntary leave of absence” before formally resigning from the company on January 4th, 2010. He’ll be replaced immediately by former Broadcom CEO Alan “Lanny” Ross, who will serve as interim chairman until the company’s board appoints a permanent chairman.
[Via GigaOM]
Filed under: Misc. Gadgets
Ex-AMD CEO Hector Ruiz steps down as Globalfoundries chairman amid insider trading scandal originally appeared on Engadget on Mon, 02 Nov 2009 11:59:00 EST. Please see our terms for use of feeds.
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