LONDON – Globalfoundries Inc. and its majority shareholder, the Abu Dhabi controlled Advanced Technology Investment Co. (ATIC), have announced Ajit Manocha has been appointed interim CEO. The move is part of a leadership change that sees James Norling becoming executive chairman of the board and Ibrahim Ajami, CEO of ATIC, appointed vice chairman. All appointments are effective immediately.
Foundry chipmaker Globalfoundries (Sunnyvale, Calif.) said it has put a new leadership team in place to meet demands from customers for more capacity, faster technology development and greater agility. The move is also part of a plan to spend $6 billion on technology, talent and manufacturing capacity over the next 18 months, the company said.
Manocha, who has been working as a consultant to ATIC, replaces Doug Grose, who has served as CEO since the formation of Globalfoundries. Grose will become a senior advisor to company focused on the delivery of next-generation technologies, Globalfoundries said.
Chia Song Hwee, chief operating officer, will leave the company in August 2011 to become "part of Singapore's business future," Globalfoundries said.
"Under this new leadership team, investment in Globalfoundries will double over the next 18 months," said Ajami, in a statement. A company spokesman added that Globalfoundries'technology roadmap remains "on track" as evidenced by the partnership with AMD on the Llano Fusion processor, which is made by Globalfoundries in a 32-nm high-K metal-gate manufacturing process.
@StefanSchubert: I never implied that the Dresden is the cause of Globalfoundries now, and before that, AMD's demise. However, Saxony contributed through loan guarantees and grants to extend the life of a company that has consistently proven is unable to carve a viable business niche for its "cutting edge", "timely developed" and "properly priced technologies". Just as AMD was unable to use much of its captive Fab capacity available in Dresden; Globalfoundries is finding that out selling TSMC is just as hard. Consistently delivering nodes late, and more recently failing to achieve production yields for 3Qs in a row, does not help GloFo's sales force that must over promise capabilities just to steal away some of TSMCs and Samsung's customers. Should we blame the poor economic performance of said Fabs in Saxony's politicians, an epidemic of bad timing, Intel's relentless profitability, uncooperative centrally planned markets, unresponsive subsidies, or all of the above? TSMC and Intel seem to be doing alright with whatever they are doing, perhaps there is a hint on this that we are not decoding?
@SiliconAsia: it may be too premature to say that the Chartered acquisition is doomed to fail. It is in a strategic and lower-cost location that NEEDS to stay in GF's organization. Singapore also provides one of the best diversified workforce, has a complete Semi ecosystem and has some good academic institutions to liaison with (IME for example).
The challenges for GF are in the NY and Abu Dhabi fabs, both of which have had to create an ecosystem of partners and the ancillary industries locally.
GF is also hiring these days in the Silicon Valley. I suppose time will tell, I wish Ajit the best of luck to steer GF in the right direction.
Dr. MP Divakar
In one sense all CEOs are interim CEOs. I believe the average period of tenure for public companies is about five years.
But perhaps they should always be labeled as interim if it keeps the CEO focused on "thriving" and less on "making a mark."
A fly hitting a windshield makes a mark, but not in a good way.
Interim CEO roles are booming.. It is an interesting business in that you have only the real goal in mind - how do you create a viable thriving business... Not how you are going to "leave your mark, create a legacy, etcetera.." . I've done a couple of these gigs in the past years and the results when you focus on the end goal / results can be quite refreshing...
Doug is taking all the responsiblity of non-performing foundry entity but this merger between AMD fab and Chartered was bound for failure from the start. AMD/Globalfoundries should not have taken over Chartered.
ATIC have big pockets guys. Yes, they are making huge losses on their investment in GF but these are peanuts for the Abu-Dhabi sovereign fund. What they need is precisely more investment in technology and capacity, something that their competitors cannot match, only then the rewards would come by eating into their competitors' markets. Wait and see....
This discussion is about the goings on in GF. Ajit Manocha is a respected Operations executive and a great choice to lead GF. It has nothing to do about being Indian as there is nothing to do with Citibank performance and Vikram Pandit being an Indian. Sounds like you have a problem being an Indian.
Where does TSMC come into the picture? It is after all a decision of Global foundries. It is not known whether it has started handling at least ASICs from other companies, apart from say processors from AMD. So, to say that it will take on TSMC is premature!
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.