November 2, 2009

Ruiz Resigns as Globalfoundries Chairman

Michael J. de la Merced

Former AMD CEO steps down amid insider trading controversy.

Hector Ruiz, the former chief executive of Advanced Micro Devices, will step down as chairman of the company’s Globalfoundries chip-making spinoff after surfacing as a reported source of information for the Galleon Group insider trading scheme, the company said Monday. He is the highest-profile name to emerge from the Galleon case, which prosecutors say drew in part on information from top-ranked business executives who provided insider information to a ring masterminded by Raj Rajaratnam.

Full story at The New York Times

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