GlobalFoundries CFO departs after less than two years

Group 1 - GlobalFoundries' CFO John Hollister has stepped down for personal reasons, with Sam Franklin appointed as interim CFO [5][8] - Franklin has a background in capital markets and investor relations, previously serving as SVP for Mubadala and a director for MUFG [4] - The company is moving forward with expansion plans amid global competition in the semiconductor industry, particularly from the U.S., EU, and China [5] Group 2 - GlobalFoundries announced a €1.1 billion (approximately $1.3 billion USD) investment to expand its manufacturing site in Dresden, Germany [8] - The expansion aims to increase production capacity to over one million wafers per year by the end of 2028, positioning it as the largest site of its kind in Europe [8] - The expansion is expected to receive support from the German federal government and the state of Saxony under the EU Chips Act, with full program approval anticipated later this year [7][6]