Monday, January 6th 2014

GLOBALFOUNDRIES Announces New Chief Executive to Lead Next Phase of Growth

Building on the successful track record of its first five years in the semiconductor industry and its continued commitment to build out its global network of manufacturing facilities, GLOBALFOUNDRIES announced today, from its new offices in Silicon Valley, Sanjay Jha has been appointed as the company's new Chief Executive Officer. Jha has served as CEO of Motorola Mobility Inc. and as the COO of Qualcomm Inc.

Ajit Manocha, who served as an advisor to the company's shareholder prior to being appointed CEO of GLOBALFOUNDRIES in mid-2011, will return to that role and will work closely with Jha on his transition.

"Ajit has played an instrumental role in making GLOBALFOUNDRIES the second largest foundry in the world, delivering on customer relationships, technology leadership and operational excellence," said Ibrahim Ajami, Vice Chairman of the GLOBALFOUNDRIES Board. "Sanjay is one of the most respected leaders in the technology industry and has a proven track record of consistently delivering shareholder value. His industry background and experience as a foundry customer will position GLOBALFOUNDRIES for continued growth."

"This has been an incredible journey and our success thus far has been a testament to our ability to partner with leading customers in the industry. I am confident that I am leaving GLOBALFOUNDRIES in a position of strength and that Sanjay will take this company to new horizons," said Manocha.

Jha will lead the company's build out and ramp of its Fab 8 leading-edge facility in Malta, New York, supporting customers at the 14 nm technology node. GLOBALFOUNDRIES will also continue its upgrade of facilities in Singapore and Germany, which serve multiple customers across a spectrum of technologies.

"I am thrilled to have the opportunity to lead a company with such a strong track record in an industry that I know and love. I look forward to working closely with Ajit during the transition and with a very talented global team to continue to make our customers successful," said Jha.
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