In a somewhat expected management shakeup, GlobalFoundries majority owner (ATIC) announced new leadership today. After Mubadala Development Company sold its share in Ferrari and acquired ATIC, we expected to see a management shakeup at ATIC, but we were surprised to see that the biggest changes happened in GlobalFoundries.

Ajit Manocha, Interim CEO, GlobalFoundriesIndustry veteran Ajit Manocha is being appointed as an interim CEO who will lead company throughout 2012, James A. Norling is being appointed as Executive Chairman, while Ibrahim Ajami (CEO, ATIC) is taking the role of Vice Chairman.

Ajit Manocha is an industry veteran with more than 30 years of experience, Ajit first served as an advisor to ATIC and this is a logic step for person of his experience. His past companies include Spansion (AMD-Fujitsu Joint-Venture), NXP, AT&T Microelectronics and Bell Laboratories. During his career, Ajit was granted over a dozen patents for his inventions which are now used as an industry standard. After the company finds a permanent CEO, Ajit will probably move to a role of an advisor for GlobalFoundries.

When it comes to new Executive Chairman, we can only comment that James A. Norling is living his second career in the semiconductor industry. His first career was marked by his 35 year stint at Motorola (1965-2000), where he served on multiple executive roles. He retired in 2000 from the role of President, Personal Communications Sector (cellphones).

Not satisfied with achieved career, he joined the board of Chartered Semiconductor in 2001, where he stayed even after the ATIC acquisition last year. Norling is also involved with Harley Davidson.

Ibrahim Ajami, CEO of ATIC is taking a role of Vice Chairman at GlobalFoundriesIn order to aid Manocha and Norling, Ibrahim Ajami is taking a more executive role inside the company. Even though he will serve as Vice Chairman, Ajami will continue to serve as the CEO of ATIC.

Doug Grose, who served as the first CEO is taking an even more important role in the company. Doug is becoming an Advisor to the company with the sole task of delivering more advanced manufacturing technologies, so that GlobalFoundries could successfully compete against market leader TSMC and the upcoming threat in the foundry business, Intel.

Chia Song Hwee, who served as a Chief Operating Officer (COO) is stepping down as well, going back to his old role of leading the Singapore facility. Hwee came to GlobalFoundries as ATIC acquired Chartered Semiconductor, where Hwee was serving as President and CEO.