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Hector Ruiz, former CEO of chip designer Advanced Micro Devices, is leaving his job with a spinoff company after a published report linking him to the Galleon Group insider trading case.
GlobalFoundries, a chip manufacturer, said Monday that Ruiz will take a voluntary leave from his position as chairman before resigning officially Jan. 4. Board member Alan Ross will take over as interim chairman immediately.
Citing an unnamed source, The Wall Street Journal reported last week that Ruiz is the executive fingered by the Manhattan U.S. Attorney's Office for leaking insider information to Danielle Chiesi, one of six hedge fund managers and corporate executives arrested in the Galleon case.
Galleon Group portfolio manager Raj Rajaratnam is accused of leading the insider trading ring, which allegedly made $25 million in illegal profits.
Ruiz is not a defendant in the case. AMD [AMD
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] has said it is reviewing the report but is not aware of any allegation of criminal misconduct by its current or former employees.
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