On Monday, GlobalFoundries (GFS.O.) announced the appointment of John Hollister, a veteran of the semiconductor business, to the position of finance chief. Reeder, who has been working for the contract chipmaker for three years, will leave.
After more than two decades at the wireless technology company Silicon Labs (SLAB.O), during which he served as the company’s chief financial officer for a decade, Hollister will begin his career at GlobalFoundries in February. Before that, he began his professional journey at PricewaterhouseCoopers.
“John brings decades of experience, a proven track record as the CFO of a publicly traded company, and a deep understanding of our industry,” said Thomas Caulfield, CEO of GlobalFoundries. “John is a great addition to our team.”
In July, the chipmaker, whose clients include Advanced Micro Devices and Qualcomm, decided to abandon its proposal to recruit Tim Stone, a former executive at Amazon.com, to finance chief. The rationale for this decision was not disclosed.
Reeder will be departing for Chewy (CHWY.N), a retailer of pet supplies, which said last week that he would be taking over as the company’s new chief financial officer.
At the beginning of November, GlobalFoundries made a profit prediction for the fourth quarter that was higher than analysts’ forecasts. This was a sign that the supply glut in the semiconductor sector was beginning to ease.