News Posts matching "Mubadala"

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Martin L. Edelman Appointed to AMD Board of Directors

AMD (NYSE: AMD) announced today that Martin Edelman has been appointed to the company's board of directors as a representative of West Coast Hitech L.P., an affiliate of Mubadala Development Company and AMD's largest stockholder. Edelman's appointment follows the resignation of Waleed al Muhairi after four years of service on the AMD Board.

Edelman currently serves as Of Counsel, Real Estate Department for the law firm Paul, Hastings, Janofsky & Walker LLP, a New York City law firm where he is responsible for real estate transactions as well as corporate mergers and acquisitions. He serves as a member of the board of directors at several private and public companies, including Avis Budget Group, Ashford Hospitality Trust and Capital Trust.

AMD Appoints Ahmed Yahia Al Idrissi to Board of Directors

AMD (NYSE: AMD) announced today that Ahmed Yahia Al Idrissi has been appointed to the company's board of directors as a second representative of Mubadala Development Company. Yahia currently serves as executive director of Mubadala Industry, where he is responsible for Mubadala's growing industrial portfolio, including metals, mining, utilities, and advanced materials and products. Prior to joining Mubadala, Yahia was a partner at McKinsey & Company where he co-led the firm's Principal Investor practice. He was also the managing partner of McKinsey's Abu Dhabi practice.

"Ahmed's years of success at McKinsey, his responsibilities as part of the senior executive management team at Mubadala and his extensive experience with a number of different boards make him an excellent addition to AMD's board of directors," said Bruce Claflin, AMD's chairman of the board.

Bruce Claflin Appointed AMD Chairman of the Board

Following the big announcement AMD made today, the company has appointed Bruce Claflin as Chairman of its Board of Directors. Mr. Claflin replaces Hector Ruiz, who retired from AMD’s Board in conjunction with assuming the position of Chairman of the Board of “The Foundry Company”. Mr. Claflin has been a member of AMD’s Board of Directors since August, 2003. The AMD Board also appointed Waleed Al Mokarrab to the Board. Mr. Al Mokarrab is chief operating officer of Mubadala Development Company. Dirk Meyer continues in his role as president and chief executive officer (CEO) of the AMD Board of Directors.
“Bruce Claflin brings a wealth of business experience that applies directly to the challenges and opportunities relevant to our company,” said Meyer. “We are also honored to welcome Waleed Al Mokarrab to the Board. His experience in business development across a broad range of industries will be an invaluable asset to AMD.”

AMD Closes “Asset Smart” Transaction, Form Global Semiconductor Company with ATIC

AMD today announced it has closed its Asset Smart strategic transaction with the Advanced Technology Investment Company (ATIC) and Mubadala Development Company of Abu Dhabi, setting the stage for the formal launch of the world’s only U.S.-headquartered semiconductor foundry, temporarily called “The Foundry Company.” The Foundry Company is expected to formally launch and disclose its new name and visual identity later this week.
AMD received $700 million from ATIC for a portion of its ownership interests in The Foundry Company, The Foundry Company assumed responsibility for the repayment of approximately $1.1 billion of associated AMD debt, and Mubadala paid AMD approximately $125 million1 for 58 million newly issued AMD shares and warrants for 35 million additional shares.

AMD Stockholders Approve New Semiconductor Manufacturing Company

AMD today announced that its stockholders approved a proposal to issue common stock and warrants to an affiliate of Mubadala Development Company PJSC, paving the way for AMD and the Advanced Technology Investment Company of Abu Dhabi to create "The Foundry Company".
With the stockholder approval received today, all closing conditions for the creation of "The Foundry Company" manufacturing joint venture have been met, and the transaction is expected to close by March 2, 2009.
AMD stockholders approved a proposal to issue 58 million shares of the company's common stock and warrants to purchase 35 million shares of its common stock and 35 million shares of the company's common stock upon exercise of those warrants to an affiliate of the Mubadala Development Company PJSC, on the terms described in the proxy statement related to the Special Meeting of Stockholders that was held today in Austin, Texas.

Mubadala Takes 8.1% Stake in AMD

AMD announced today that it has received an investment from a wholly-owned subsidiary of Mubadala Development Company, a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates (UAE). Mubadala invested approximately $622 million, receiving 49 million newly-issued shares at a price per share of $12.70, the closing price of AMD common stock on November 15, 2007. AMD received approximately $608 million, after reimbursing Mubadala for approximately $14.6 million in expenses. AMD will use the net proceeds from the sale of the shares of common stock for general corporate purposes including accelerating its long-term, customer-focused growth strategy by investing in R&D, product innovations and manufacturing excellence.
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