Hector Ruiz certainly led a checkered career as CEO of AMD, earning the highest CEO salary in the semiconductor industry as his company’s stock dropped, its products dragged, and its fortunes sank, but the man didn’t stop there — it turns out he was also involved in a little illegal insider trading on the side. According to the Wall Street Journal, Ruiz is the heretofore unnamed AMD executive who illegally tipped off an investor at the Galleon Group hedge fund about the company’s big spinoff of Globalfoundries, ultimately leading to criminal and civil charges against Galleon and six of its employees. Ol’ Hec’s currently in the clear, as he hasn’t been charged with anything, but considering he’s now the CEO of Globalfoundries, well, let’s say things are about to get a little sticky. We’ll let you know — we’ve got a feeling Gizmondo’s Stefan Eriksson is going to look like small potatoes when this is all over.
Filed under: Misc. Gadgets
Ex-AMD chief Hector Ruiz caught up in insider-trading scandal originally appeared on Engadget on Tue, 27 Oct 2009 20:11:00 EST. Please see our terms for use of feeds.
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