GlobalFoundries Says Tim Stone Agreed That He Will Not Assume His Duties As CFO And Will Depart Company Effective July 11
Portfolio Pulse from Benzinga Newsdesk
GlobalFoundries announced that Tim Stone will not assume his duties as CFO and will leave the company effective July 11. David Reeder will remain as CFO through the end of the year to support the selection of a new CFO and ensure an orderly transition.
July 11, 2023 | 11:12 am
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GlobalFoundries' CFO, Tim Stone, will not assume his duties and will leave the company on July 11. David Reeder will continue as CFO till the end of the year.
The departure of a CFO can create uncertainty in the market, potentially leading to a negative impact on the company's stock. The company has a plan for transition, which may mitigate some of the negative impact.
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