After report of links to insider trading case, former AMD chief to leave current role

Associated Press

Last update: November 2, 2009 - 11:12 AM

SUNNYVALE, Calif. - Hector Ruiz, former CEO of chip designer Advanced Micro Devices Inc., is leaving his job with a spinoff company after a published report linking him to the Galleon Group insider trading case.

GlobalFoundries Inc., a chip manufacturer, said Monday that Ruiz will take a voluntary leave from his position as chairman before resigning officially Jan. 4.

Board member Alan Ross will take over as interim chairman immediately.

Citing an unnamed source, The Wall Street Journal reported last week that Ruiz is the executive fingered by the Manhattan U.S. Attorney's Office for leaking insider information to Danielle Chiesi, one of six hedge fund managers and corporate executives arrested in the Galleon case.

Galleon Group portfolio manager Raj Rajaratnam is accused of leading the insider trading ring, which allegedly made $25 million in illegal profits.

Ruiz is not a defendant in the case. AMD has said it is reviewing the report but is not aware of any allegation of criminal misconduct by its current or former employees.

GlobalFoundries referred requests for comment from Ruiz to an outside public relations firm representing him. Ruiz spokesman Jeremy Fielding declined to comment.

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