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Hector Ruiz leaving AMD spinoff after insider-trading report

AMD-Hector-Ruiz-Insider-SkandalHector Ruiz, identified last week as one of the sources of inside information in the Galleon hedge fund scandal, resigned Monday from Globalfoundries, a company he helped create when he ran Advanced Micro Devices.

A terse announcement posted on Globalfoundries’ Web site said Ruiz is taking a voluntary leave of absence and will formally depart the company on Jan. 4.

The announcement said he submitted his resignation in September, effective in January. A source familiar with the matter said he decided to leave in January because the company was doing well and to make room for new leadership to take over. The announcement of his January departure was accelerated after the events of last week, the source said. Continue Reading →

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