GlobalFoundries finance chief John Hollister departs, Sam Franklin named interim CFO
The management reshuffle comes at a time when the company has pledged to invest $16 billion partly towards building more manufacturing facilities on American soil amid U.S. President Donald Trump's push to onshore supply chains. The company, unlike leader TSMC, does not largely produce cutting-edge artificial intelligence chips and is spending heavily on upgrading its manufacturing processes to produce more advanced chips for markets such as automotive and smartphones. While Taiwan's TSMC manufactures the most advanced processors designed by the likes of Nvidia, AMD and Qualcomm, GlobalFoundries produces the chips used alongside them that form an essential part of electronic systems.