ATIC and GLOBALFOUNDRIES Announce New Leadership to Drive Continued Investment Through 2012

By Atic, PRNE
Wednesday, June 15, 2011

DRESDEN, Germany, June 16, 2011 -

- Industry veteran Ajit Manocha appointed interim CEO

- James A. Norling takes Executive
Chairman role

 As part of a plan to continue significant investments in
technology, talent and manufacturing capacity over the next 18
months, the board of directors of GLOBALFOUNDRIES - along with its
majority shareholder, the Advanced Technology Investment Company -
announced today it has appointed new leadership to run the

Semiconductor industry veteran Ajit Manocha has been appointed
interim Chief Executive Officer of GLOBALFOUNDRIES. James A.
will serve as Executive Chairman and Ibrahim Ajami will
serve as Vice Chairman of the GLOBALFOUNDRIES board of directors.
All appointments are effective immediately.

“GLOBALFOUNDRIES is just two years old, but in that short time
customers have embraced what it represents to the market,” said
Norling. “At the same time, customers are asking us for more
capacity, faster technology delivery and greater agility. The Board
intends for this new management team to meet those customer needs
while improving operational performance.”

“GLOBALFOUNDRIES, with the continuous support of ATIC, is in the
middle of an intense, competitive ramp-up of manufacturing capacity
and technology development,” said Ajami, who will also remain CEO
of ATIC. “Under this new leadership team, investment in
GLOBALFOUNDRIES will double over the next 18 months.”

Through end of May 2011, ATIC had invested over $6 billion, to
acquire the former manufacturing assets of Advanced Micro Devices
in Dresden, Germany ($2.1 billion in March 2009) and the assets of
Chartered Semiconductor Manufacturing of Singapore ($3.1 billion in
December 2009) as well as an estimated $1 billion to construct a
new fabrication facility in upstate New York. Through the end of
2012, ATIC will invest another approximately $6 billion in
manufacturing capacity in Dresden, Singapore and New York with
initial construction to begin in Abu Dhabi.

Doug Grose, who has served as CEO of GLOBALFOUNDRIES since its
inception, will transition to become senior advisor to
GLOBALFOUNDRIES and ATIC with a focus on technology leadership and
ensuring delivery of next generation technologies for competitive
differentiation. Chia Song Hwee, Chief Operating Officer, will
remain with the company in that position until August 2011, when he
will return to be part of Singapore’s business future.

Doug Grose and Chia Song Hwee formed the foundation of
GLOBALFOUNDRIES, bringing together the world’s leading-edge
manufacturing technology with the heritage of a full-service
foundry partner,” said Norling. “This new leadership team will
build on that foundation, as we increase investment in technology,
capacity and talent while optimizing performance.”

Norling also said an executive search for a permanent CEO has
already begun. Manocha’s focus in the short-term is to work closely
with top management and talent of the company to optimize
performance, continue progress on the customer and technology
roadmap, and continue the efficient ramp of capacity in Dresden and
New York.

Manocha is a veteran semiconductor industry executive with more
than 30 years of global expertise in operations, general
management, and manufacturing. Having recently served as an advisor
to ATIC, Manocha brings a wealth of talent, experience and
leadership ability to GLOBALFOUNDRIES at a critical time in the
company’s development. Manocha was previously Executive Vice
President of Worldwide Operations at Spansion. Prior to Spansion,
he was Executive Vice President and Chief Manufacturing Officer at
NXP (formerly Philips Semiconductors), where he was responsible for
worldwide IC manufacturing, supply chain management and purchasing
for the semiconductor division. Manocha held senior executive and
management positions at AT&T Microelectronics and AT&T Bell
Laboratories, and began his career as a research scientist and was
granted over a dozen U.S. and international patents for several
novel inventions in the field of technology for

Norling is the former Chairman of Chartered Semiconductor and
also served as interim CEO of that company in 2002. He has over
three decades of working experience in the electronics industry,
with global breadth and deep customer relationships. Norling was
with Motorola Inc. from 1965 to 2000 holding various positions,
including President of the Semiconductor Products Sector for seven
years, from 1986 to 1993. He was also president of the Europe,
Middle East and Africa region in 1993, deputy to the chief
executive officer in 1998 and president of the Personal
Communications Sector from 1999 until 2000, when he retired from
Motorola. In 2001, he joined the board of Chartered

Ajami has been CEO of ATIC since November 2008, leading the
investment company through strategic acquisitions of semiconductor
manufacturing assets and the creation of GLOBALFOUNDRIES as well as
other investments in innovative start-up companies such as Calxeda.
Ajami brings strong customer and partner relationships to
GLOBALFOUNDRIES with a focus on investment discipline. He joined
ATIC from Mubadala Development Company, where he was Associate
Director of Acquisitions and led the initial investment in AMD in
2007. Prior to Mubadala, he held several positions in Silicon
Valley, including Packard Bell/NEC.


GLOBALFOUNDRIES is the world’s first full-service semiconductor
foundry with a truly global manufacturing and technology footprint.
Launched in March 2009 through a partnership between AMD [NYSE:
AMD] and the Advanced Technology Investment Company (ATIC),
GLOBALFOUNDRIES provides a unique combination of advanced
technology, manufacturing excellence and global operations. With
the integration of Chartered in January 2010, GLOBALFOUNDRIES
significantly expanded its capacity and ability to provide
best-in-class foundry services from mainstream to the leading edge.
GLOBALFOUNDRIES is headquartered in Silicon Valley with
manufacturing operations in Singapore, Germany, and a new
leading-edge fab under construction in Saratoga County, New York.
These sites are supported by a global network of R&D, design
enablement, and customer support in Singapore, China, Taiwan,
Japan, the United States, Germany, and the United Kingdom. For more
information on GLOBALFOUNDRIES, visit href="">

About ATIC

The Advanced Technology Investment Company (ATIC) was created in
2008. A technology investment company wholly owned by the Mubadala
Development Company of Abu Dhabi, ATIC is focused on making
significant investments in the advanced technology sector, both
locally and internationally. Its mandate is to generate returns
that deliver long-term benefits to the Emirate of Abu Dhabi.

ATIC seeks to leverage the unique advantages it enjoys as an
investor from the Emirate of Abu Dhabi to identify and realize
long-term investment opportunities in the highly competitive and
capital-intensive advanced technology sector. These advantages
include significant and reliable capital, a patient investment
philosophy, and a subsequently long-term investment horizon. For
more information, visit href="">

For More information:
Brian Lott
Executive Director - Communications
email: href="">
Mobile: +971-50-441-0126


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