08:42 AM EST, 02/05/2025 (MT Newswires) -- GlobalFoundries ( GFS ) said Wednesday it has named Chief Operating Officer Tim Breen as chief executive, starting April 28.

The company said Breen will succeed Thomas Caulfield, who will transition to the role of executive chairman.

Caulfield will succeed Ahmed Yahia, who is stepping down, GlobalFoundries ( GFS ) said.

The company named Niels Anderskouv as chief operating officer to succeed Breen, adding that all changes will become effective on April 28.