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.
Ruiz Resigns as Globalfoundries Chairman
November 2, 2009