Hector Ruiz, chairman of Globalfoundries, the chipmaker, has become the highest-profile executive to step down in the aftermath of the Galleon insider trading allegations. The former CEO of Advanced Micro Devices is taking immediate voluntary leave, according to AMD, which said Ruiz had already submitted his resignation in September, to take effect in January. Ruiz is believed to be the executive who allegedly passed information to Danielle Chiesi, a hedge fund manager. He has not been charged with wrongdoing in the case.

This entry was posted by Gwen Robinson on Tuesday, November 3rd, 2009 at 4:30 and is filed under Capital markets, Hedge funds, People. Tagged with AMD, Globalfoundries. Edit this entry.