GlobalFoundries names Sam Franklin as CFO after interim stint

Dec ‌10 (Reuters) - GlobalFoundries on Wednesday appointed Sam Franklin ‍as ‌its chief financial officer, succeeding David Reeder, who ⁠stepped down earlier ‌this year.

Franklin, interim CFO since October, previously served as senior vice president of business finance and ⁠operations and investor relations at GlobalFoundries.

Prior to joining GlobalFoundries ​in 2022, Franklin held senior finance ‌roles at Mubadala ⁠Investment Company, MUFG Bank and Barclays.

Franklin's leadership will help the company "capitalize on significant opportunities ​ahead" as demand for semiconductors accelerates with the rise of artificial intelligence, said CEO Tim Breen.

GlobalFoundries has been investing in differentiated ​technologies ‍to support AI ​workloads from data centers.

One of the few large foundries with significant capacity outside China and Taiwan, GlobalFoundries makes chips for companies including Advanced Micro Devices, Qualcomm and NXP Semiconductors. ⁠It runs chip plants in Germany, Singapore, New York, and Vermont.

Last ​month, the company had forecast fourth-quarter revenue of $1.80 billion, plus or minus $25 million, a touch above estimates of $1.79 billion, ‌according to data compiled by LSEG.

(Reporting by Kritika Lamba in Bengaluru; Editing by Maju Samuel)