With major leadership changes, GlobalFoundries appoints Tim Breen as CEO, with Niels Anderskouv becoming COO, as the company continues expansion efforts in its US facilities.
GlobalFoundries has appointed its Chief Operating Officer (COO), Tim Breen, as the new Chief Executive Officer (CEO), the semiconductor firm revealed on Wednesday.
Breen will succeed Thomas Caulfield, who has served as President and CEO since 2018. Caulfield will transition to the role of chairman of the board, taking over from Ahmed Yahia, who is stepping down after leading the board since 2013. Niels Anderskouv, currently Chief Business Officer (CBO), will assume the position of COO and president, effective April 28.
Breen, who has been with GlobalFoundries since 2018, has held a range of roles, including leading strategy, transformation efforts, and advising the CEO. He became COO in 2023, overseeing the company’s global operations, which include manufacturing, quality control, supply chain, and IT departments.
Before joining GlobalFoundries, Breen was part of Mubadala Investment Company’s executive team, where he managed investments and projects in energy and industrial sectors.
In a report by the Manufacturing Dive, Caulfield applauded Breen’s experience, highlighting his efforts to integrate the company’s global operations, improve performance, and drive digital and sustainability transformations.
He further expressed full confidence in Breen’s ability to lead the company during the next phase of growth, particularly in the evolving artificial intelligence (AI) sector.
Anderskouv joined GlobalFoundries in 2023 as Chief Business Officer, where he has been responsible for the company’s product and technology strategy, as well as its business and commercial operations. Before this, he held a senior position at Texas Instruments, overseeing its analogue power business.
Caulfield commended Anderskouv for establishing a clear strategy for differentiated products, value-added services, and strong customer partnerships, noting that both Breen and Anderskouv have the vision and experience to steer the company forward.
GlobalFoundries has also been expanding its manufacturing capabilities in the United States. In November 2024, the company received a $1.5 billion funding award through the CHIPS and Science Act, which will help increase its manufacturing capacity at its Malta, New York facility over the next decade.
Additionally, the company recently announced plans to invest $575 million in a new advanced packaging and testing centre in Malta, with $186 million earmarked for research and development (R&D) in the next ten years.
