Changing of the Guard at GlobalFoundries

MALTA — GlobalFoundries (GF) announced last week that its Board of Directors has appointed Dr. Thomas Caulfield as executive chairman and Tim Breen as chief executive officer. Niels Anderskouv, currently GF’s chief business officer, has been appointed the company’s president and chief operating officer (COO).

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, succeeds Caulfield. These changes to leadership will become effective on April 28.

“With a solid strategic foundation and strong execution capabilities in place, it’s the right time to take the company to the next level,” said Yahia in a news release.

“I am truly honored and excited to be appointed as the next CEO of GF,” said Breen. “I appreciate the confidence that the Board has placed in me, and I look forward to partnering with Tom and Niels to expand our portfolio, deepen our customer focus, accelerate our growth, and deliver increasing value for our shareholders.”

Caulfield became president and CEO of GF in 2018. During his tenure he repositioned the technology portfolio to focus on differentiated, essential chips and steered the company to sustainable profitability.

Breen oversees the company’s global operations, including the manufacturing, quality, supply chain and IT teams, based in New York. Prior to becoming COO in 2023, he served in various senior executive roles encompassing strategy, business transformation, and finance as a close partner and advisor to the CEO since 2018.

Anderskouv joined GF as Chief Business Officer in 2023 with responsibilities for leading GF’s product and technology roadmap, business and commercial strategy, as well as the company’s go-to-market execution. He brings more than 25 years of experience in engineering, manufacturing, executive management, and global leadership in the semiconductor industry.