Former AMD supremo Hector Ruiz – who has been implicated in the Galleon insider trading scandal – has resigned as chairman of GlobalFoundries with immediate effect.

GlobalFoundries is a joint venture between AMD and the Advanced Technology Investment Company (ATIC) which Ruiz was instrumental in setting up during his tenure as CEO of AMD.
In a statement, GlobalFoundries says Ruiz will take a voluntary leave of absence effective immediately before resigning from the company in January. He submitted his resignation in September with an effective date of 4 January 2010.
The company says Ruiz will be replaced by Alan “Lanny” Ross, who will serve as interim chairman until a permanent chairman has been appointed by the board.
Ross, a current member of the GlobalFoundries board, was previously president and CEO of Broadcom. He also served in high-level executive positions with Rockwell Automation, National Semiconductor, Fairchild Semiconductor and the Worldwide Semiconductor Manufacturing Corporation.