Citing the need to continue to meet customer demand for its semiconductor foundry services and plans to invest US$ billion in fab expansions on several continents, Globalfoundries has appointed Ajit Manocha as its new interim Chief Executive Officer, while James Norling will move to become Executive Chairman. Ibrahim Ajami will now serve as Vice Chairman of the board of directors. The current CEO since inception, Doug Grose (pictured) will become a senior advisor to the foundry and owner, ATIC with a focus on technology leadership. 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. All appointments were said to be effective immediately.
“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,” said Norling. “This new leadership team will build on that foundation, as we increase investment in technology, capacity and talent while optimizing performance.”
“Globalfoundries is just two years old, but in that short time customers have embraced what it represents to the market,” said Norling. “At the same time, customers are asking us for more capacity, faster technology delivery and greater agility. The Board intends for this new management team to meet those customer needs while improving operational performance.”
Norling also said an executive search for a permanent CEO has already begun.