GlobalFoundries appointed Sanjay Jha as the company's new CEO. Jha previously served as CEO of Motorola Mobility and COO at Qualcomm. Former CEO Ajit Manocha will help with the transition but is returning to his role prior to becoming CEO in mid-2011.
"Sanjay is one of the most respected leaders in the technology industry and has a proven track record of consistently delivering shareholder value. His industry background and experience as a foundry customer will position GlobalFoundries for continued growth," said vice chairman of GlobalFoundries' board Ibrahim Ajami, in a statement. Ajami stressed that Manocha was instrumental in making the company the second largest foundry in the world.
"This has been an incredible journey and our success thus far has been a testament to our ability to partner with leading customers in the industry. I am confident that I am leaving GlobalFoundries in a position of strength and that Sanjay will take this company