Former AMD Chief Implicated in Galleon Scandal, Resigns from Globalfoundries (AMD)
Mon. November 02, 2009; Posted: 10:11 AM
Nov 02, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 11/2/2009 - Globalfoundries said Monday that its chairman, Hector Ruiz, submitted his letter of resignation in September and will take a voluntary leave of absense until his effective resignation on January 4, 2010. Ruiz has been accused of leaking insider information before he stepped down as CEO of Advanced Micro Devices (NYSE:AMD) last year to Danielle Chesi , who is an alleged member of the Galleon insider-trading ring, according to a Bloomberg report that cites a person familiar with the matter. Chesi reportedly benefited from information related to a plan to which Ruiz was instrumental, spinning off the company's manufacturing plants.
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