Through the end of May 2011, ATIC had invested over $6 billion, to acquire the former manufacturing assets of Advanced Micro Devices Inc. in Dresden, Germany ($2.1 billion in March 2009) and the assets of Chartered Semiconductor Manufacturing of Singapore ($3.1 billion in December 2009) as well as an estimated $1 billion to construct a new fabrication facility in upstate New York. Through the end of 2012, ATIC will invest another approximately $6 billion in manufacturing capacity in Dresden, Singapore and New York with initial construction to begin in Abu Dhabi.
"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."
Norling said an executive search for a permanent CEO has begun.
Manocha has more than 30 years of global expertise in operations, general management, and manufacturing. Having recently served as an advisor to ATIC, Manocha was previously executive vice president of worldwide operations at Spansion. Prior to Spansion, he was executive vice president and chief manufacturing officer at NXP and Philips Semiconductors. Prior to that Manocha held senior executive and management positions at AT&T Microelectronics and AT&T Bell Laboratories, and began his career as a research scientist.
Norling is the former chairman of Chartered Semiconductor and held various positions at Motorola Inc. between 1965 and 2000. Ajami has been CEO of ATIC since November 2008. He joined ATIC from Mubadala Development Company, where he led an initial investment in AMD in 2007. Prior to Mubadala, he held several positions in Silicon Valley.
@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!
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