GlobalFoundries, a leading manufacturer of essential semiconductors, has announced a leadership transition, which the company says will drive its next phase of growth.
Today, GlobalFoundries announced the appointment of Tim Breen as its new CEO. Breen, who has been with the company since 2018, is currently the Chief Operating Officer. Dr. Thomas Caulfield, GF’s current CEO, will transition to the role of Executive Chairman.
Breen, told investors “I am truly honored and excited to be appointed as the next CEO of GF. GF is uniquely positioned with our talented team, differentiated technology and geographically diverse manufacturing footprint to meet our global customers’ needs.”
Breen will assume CEO duties in April, “I look forward to partnering with Tom and Niels to expand our portfolio, deepen our customer focus, accelerate our growth and deliver increasing value for our shareholders.”
GlobalFoundries, based in New York, recently announced its plan to invest $575 million in a chips packaging center in its home state. The facility, located within the chipmaker’s Malta campus, will accelerate the company’s plans to create a U.S.-based, end-to-end semiconductor supply chain.
Dr. Caulfield stated, “The New York Advanced Packaging and Photonics Center will be unique in our industry and will play a vital role in the continued growth of the Empire State’s world-class semiconductor manufacturing and innovation ecosystem.”
By CEO NA Editorial Staff
