Tuesday, February 28th 2012

GLOBALFOUNDRIES Adds New Chief Procurement Officer

GLOBALFOUNDRIES today announced the appointment of Magnus Matthiasson as Chief Procurement Officer (CPO). Based at the company's corporate offices in Silicon Valley, Matthiasson will lead the GLOBALFOUNDRIES global purchasing activities, including managing all aspects of the company's supply base relationships worldwide. Matthiasson will report to GLOBALFOUNDRIES Chief Financial Officer, Dan Durn.

"Given the magnitude of our annual capital-equipment and purchasing investments, the right leadership to drive our strategic supply chain relationships and procurement operations is critical to our ability to provide value to our customers and grow our business profitably," said Durn. "With Magnus in place, our aim is to bolster a world-class procurement organization with programs that continuously optimize our purchasing and materials spend and management capabilities."

In January, the company announced plans for more than $3 billion in capital spending for 2012 - capping a three-year $11 billion investment—to fund expansions in its facilities in Singapore, Germany and New York.

Prior to joining GLOBALFOUNDRIES, Matthiasson served as vice president and CPO with Philips Lumileds, leading a change-management initiative that implemented a commodity management and operational excellence structure that achieved a double-digit year-over-year savings for the company.

Previous to Philips Lumileds, Matthiasson was vice president and CPO at Spansion, Inc., where he was responsible for increasing the scope of supply management resulting in a double-digit year-over-year savings, as well as well as improved quality, flexibility, and service across the business.

An accomplished industry veteran, Matthiasson has also held leadership positions with KLA-Tencor and AMD. Matthiasson earned a masters of business administration degree from Arizona State University and a bachelor of science degree in mechanical engineering from Rice University.
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1 Comment on GLOBALFOUNDRIES Adds New Chief Procurement Officer

sounds to me that GF has more cheifs than indians (pardon the pun)
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