REFILE-UPDATE 1-Ruiz to step down as Globalfoundries chairman - News

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REFILE-UPDATE 1-Ruiz to step down as Globalfoundries chairman

By: AFX | 02 Nov 2009 | 09:13 AM ET

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NEW YORK, Nov 2 (Reuters) - Hector Ruiz will step down as chairman of chip maker Globalfoundries, following reports linking the former Advanced Micro Devices chief executive to the largest insider trading scheme in decades. Ruiz will immediately take a voluntary leave of absence and will be resigning from the company Jan. 4, Globalfoundries said in a statement on Monday. The statement did not state a reason for Ruiz's decision. Alan "Lanny" Ross will serve on an interim basis until a permanent chairman has been appointed. (Reporting by Franklin Paul, editing by Gerald E. McCormick) ((Email: Franklin.Paul@thomsonreuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net)) Keywords: INSIDERTRADING/RUIZ (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra: visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News: http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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