SAN FRANCISCO—Ajit Manocha, who has served as interim CEO of Globalfoundries Inc. since June, was appointed to the job on a permanent basis Monday (Oct. 31).
Manocha, a semiconductor industry veteran with more than 30 years experience, played a key role in strengthening Globalfoundries as interim CEO, focusing on improving operations, increasing customer engagement and laying the groundwork for technology leadership, Globalfoundries (Milpitas, Calif.) said in a statement.
"The Board worked diligently to review and interview a number of outstanding candidates who had excellent qualifications to become our CEO," said Jim Norling, Globalfoundries' chairman. "We were excited to see the caliber of individuals who were eager to lead this company. In the end, we decided the best candidate is in-house and we’re extremely pleased that Ajit has accepted our offer to become our permanent CEO."
Prior to joining Globalfoundries, Manocha served as executive vice president of worldwide operations at NOR flash vendor Spansion Inc. and as executive vice president and chief manufacturing officer at NXP Semiconductors Inc. He also previously senior executive and management positions at AT&T Microelectronics and AT&T Bell Laboratories, where he began his career as a research scientist and was granted more than a dozen U.S. and international patents for inventions in the field of microelectronics.
Manocha took the helm of Globalfoundries on an interim basis in a management shakeup in June. Grose, who had served as CEO since the formation of Globalfoundries, became a senior advisor to company focused on the delivery of next-generation technologies.Analysts at Nomura Equity Research said the shakeup in leadership was prompted by problems with 32-nm chip yield and the slowness of creating a foundry-like operation at Globalfoundries' Dresden facility in Germany,
"Ajit’s efforts over the last four months – his passion, his energy, his leadership skills and his ability to help drive the business and its operations to a new level – make him the right person to lead Globalfoundries forward," said Ibrahim Ajami, vice chairman of the board and CEO of the Advanced Technology Investment Co., the majority shareholder in Globalfoundries.
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