Dive Brief:

• Semiconductor manufacturer GlobalFoundries announced Sam Franklin will take on the role of finance chief on a permanent basis, after serving as its interim CFO since October, the company announced in a Wednesday press release.
• The appointment comes approximately two months after Franklin stepped in as interim CFO for the Malta, New York-based business, following the departure of previous CFO John Hollister — who left his role after just over a year in the seat, citing personal reasons, CFO Dive previously reported.
• Franklin’s “proven leadership and financial expertise will accelerate GF’s momentum and capitalize on the significant opportunities ahead,” CEO Tim Breen said in a statement included in the release. “As we continue to drive profitability and deliver differentiated technologies for the scaling of AI from the data center to the physical world, Sam’s ability to deliver results and partner across the organization will be critical to our success.”

Dive Insight:

Prior to taking the interim CFO seat, Franklin served as GlobalFoundries’ senior vice president of business finance, operations and investor relations. He joined the company in September 2022 as its VP of capital markets, treasury and investor relations, according to his LinkedIn profile. Before GlobalFoundries, he served as SVP, direct investments for United Arab Emirates sovereign investor Mubadala and as a director for MUFG.

The company will look to tap Franklin’s “extensive financial leadership experience” and “deep understanding” of its operations and finance functions as it seeks to capitalize on the artificial intelligence boom — aiming for a top slot in an increasingly competitive industry as growing AI needs push up the demand for chips globally.

“As the secular drivers and demand for semiconductors continue to ramp, GF is building a strong foundation for its next phase of robust, sustainable and profitable growth,” Franklin said of his appointment in a statement included the release. “I look forward to working with our talented teams across the world to advance our strategic priorities, drive operational excellence and create long-term value for our shareholders.”

In past months, GlobalFoundries has announced a number of partnerships, investments and executive hires aimed at facilitating further growth. In October, a day after its announcement of Franklin’s appointment as interim CFO, GlobalFoundries announced it would be investing approximately $1.3 billion into expanding its manufacturing site in Dresden, Germany, with the goal of increasing its production capacity to over one million wafers by the end of 2028.

On Thursday, GlobalFoundries announced a team-up with German technology business Siemens AG to “leverage each company’s complementary AI-based capabilities to enhance performance of semiconductor manufacturing and advanced industries,” it said in a press release.

The company has also made strategic leadership hires, tapping Matthew Zack as its chief corporate development officer — highlighting key areas of focus including mergers and acquisitions, strategic partnerships and targeted venture investments as GlobalFoundries looks to expand its global technology portfolio, it said in a Dec. 1 announcement.

GlobalFoundries’ moves to foster growth and product come as rising chip demand has also sparked growing competition on the world stage, with government and business leaders in the U.S., China and the European Union vying to establish themselves as the dominant players in semiconductor manufacturing, according to a recent Bloomberg report.

Under President Donald Trump, for example, the U.S. government took a 10% stake in chipmaker Intel in a bid to bolster American manufacturing efforts. Chips have also emerged as a key battleground in the Trump administration’s ongoing trade negotiations with China. Last month, the two countries reached an economic agreement, part of which includes China dropping investigations and restrictions on U.S. semiconductor companies, according to a Nov.1 fact sheet published by the White House.

Plans touted by Trump in August to impose 100% tariffs on semiconductor imports, meanwhile, have reportedly been delayed, with Washington officials debating their timing and details, according to a Nov. 20 report by Reuters citing people familiar with the matter.

In a statement sent to Reuters, a White House spokesperson disputed the reports of the discussions, noting “the Trump Administration remains committed to using every lever of executive power to reshore the manufacturing that’s critical to our national and economic security. Any anonymously-sourced reports suggesting otherwise are simply Fake News."

GlobalFoundries did not immediately respond to requests for comment.