While AMD is having trouble finding a replacement for ousted CEO Dirk Meyer, spin-off GlobalFoundries has just named a new management team, seemingly overnight.
Doug Grose, CEO since GlobalFoundries' inception, will be stepping aside and into a new role as "senior advisor to GLOBALFOUNDRIES and ATIC with a focus on technology leadership and ensuring delivery of next generation technologies for competitive differentiation." Ajit Manocha will fill in as interim CEO, alongside James A. Norling as Executive Chairman and Ibrahim Ajami as Vice Chairman. Manchoa has been an advisor to GloFo parent company ATIC, and he's also served on the board at Spansion.
According to the official press release, GloFo has already begun its search for a permanent CEO. Interestingly, new Vice Chairman Ibrahim Ajami will retain his position as CEO of ATIC, and ATIC intends to double its investment in GlobalFoundries over the next 18 months. By the end of 2012, ATIC expects to pour another $6 billion into foundries in Dresden, Singapore, New York, and Abu Dhabi.