Ruiz quits Globalfoundries

AMD spinoff Globalfoundries has announced that Hector Ruiz has quit as chairman with immediate effect.

Ruiz, named in the Galleon insider trading scandal, but not yet charged, will take a voluntary leave of absence effective immediately before resigning from the company in January, the company’s board announced. Ruiz submitted his resignation in September with an effective date of January 4th, 2010.

He will be replaced by Alan E. ‘Lanny’ Ross, who will serve as interim chairman, effective immediately, until a permanent chairman has been appointed by the board.

Ross, a current member of the board, was previously president and CEO of Broadcom. He also served in high-level executive positions with Rockwell Automation, National Semiconductor, Fairchild Semiconductor and the Worldwide Semiconductor Manufacturing Corporation.

Ruiz was previously CEO of AMD.

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Ex-AMD CEO named in insider trading scandal