GlobalFoundries, the world’s second largest contract maker of semiconductors, said its board of directors named Sanjay Jha as the company’s new chief executive officer. Prior to GlobalFoundries, Mr. Jha worked at Qualcomm and Motorola Mobility.
Last week the contract maker of chips announced plans to deploy an additional $9 – $10 billion in capital expenditures over the next two years, with the investment focused primarily on the continued build out of Fab 8, its leading-edge manufacturing facility in New York.
Mr. Jha will lead the company’s build out and ramp of its fab 8 facility in Malta, New York, supporting customers at the 14nm technology node. GlobalFoundries will also continue its upgrade of facilities in Singapore and Germany, which serve multiple customers across a spectrum of technologies.
Ajit Manocha, who served as an advisor to the company’s shareholder prior to being appointed CEO of GlobalFoundries in mid-2011, will return to that role and will work closely with the new CEO on his transition.
“Ajit has played an instrumental role in making GlobalFoundries the second largest foundry in the world, delivering on customer relationships, technology leadership and operational excellence. Sanjay is one of the most respected leaders in the technology industry and has a proven track record of consistently delivering shareholder value. His industry background and experience as a foundry customer will position GlobalFoundries for continued growth,” said Ibrahim Ajami, vice chairman of the GlobalFoundries board.
Having worked at two mobile companies, Sanjay Jha has a lot of experience with mobile chips and requirements of mobile chip designers and integrators. This experience will be a great help for GlobalFoundries since chips for mobile apps are in high demand these days.
“I am thrilled to have the opportunity to lead a company with such a strong track record in an industry that I know and love. I look forward to working closely with Ajit during the transition and with a very talented global team to continue to make our customers successful,” said Mr. Jha.