GlobalFoundries Announces Leadership Transition to Drive Next Phase of Growth

MALTA, N.Y., Feb. 05, 2025 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) today announced, following a rigorous succession planning process, its Board of Directors has appointed Dr. Thomas Caulfield as Executive Chairman and Tim Breen as Chief Executive Officer. Caulfield succeeds Ahmed Yahia who will step down from the Board and his role as Chairman after more than a decade in the position. Breen, who has been with GF since 2018, and is currently Chief Operating Officer (COO), succeeds Caulfield. In addition, Niels Anderskouv, currently GF’s Chief Business Officer, has been appointed GF’s President and COO. With a strong foundation in place, this leadership transition positions GF to accelerate its next phase of growth. These changes will become effective April 28, 2025.