N※N

GlobalFoundries finance chief John Hollister departs, Sam Franklin named interim CFO

  //business-finance.news-articles.net/content/202 .. ster-departs-sam-franklin-named-interim-cfo.html
  Published in Business and Finance on Monday, October 27th 2025 at 19:36 GMT by Channel NewsAsia Singapore
          ^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

2025-10-27 269 x 187 / 8901 Bytes

2025-10-27 149 x 224 / 4877 Bytes

2025-10-27 300 x 168 / 3612 Bytes

2025-10-27 275 x 183 / 5683 Bytes

GlobalFoundries, the world’s largest independent semiconductor foundry, announced on Wednesday that its long‑time Chief Financial Officer (CFO) John Hollister has departed from the company, effective immediately. The announcement came via a brief statement on the firm’s website, where the board thanked Hollister for his service and revealed that Sam Franklin would step in as interim CFO until a permanent successor is appointed.

John Hollister has been a key figure in GlobalFoundries’ financial operations since 2019, when he joined the company in the wake of a major restructuring that saw the firm shift its focus from cutting‑edge nodes to more mature, high‑volume processes. During his tenure, Hollister led a number of initiatives that tightened cost controls, streamlined capital expenditures, and secured new financing to support the firm’s expansion into advanced manufacturing. He played a central role in the rollout of the company’s next‑generation 7‑nanometer process and the expansion of its fabs in Austin, Texas and Singapore. Hollister’s departure marks the end of a period of significant growth and consolidation for GlobalFoundries, which now faces the challenge of maintaining momentum as it competes against larger players such as TSMC and Samsung.

Sam Franklin, who has been with GlobalFoundries since 2017 as the company’s Senior Vice President of Finance and Chief Operating Officer, was named interim CFO in the announcement. Franklin comes to the role with a deep understanding of GlobalFoundries’ financial and operational landscape. Prior to joining the firm, Franklin served as CFO at the semiconductor supplier Amkor Technology, where he managed the company’s $4 billion annual revenue and was responsible for a $3 billion debt reduction program. He also has experience in private equity, having spent two years at Silver Lake Partners, where he advised on capital structure and strategic acquisitions for technology firms.

Franklin’s appointment is expected to bring continuity and stability to GlobalFoundries’ financial stewardship. In a brief statement to the board, he said, “I’m proud of the work we’ve done together and I’m committed to ensuring a smooth transition. I’ll continue to support the company’s growth initiatives while maintaining the financial discipline that has driven our success.”

The announcement was made amid a broader industry context in which foundries are grappling with supply‑chain disruptions, rising capital costs, and shifting customer demand. GlobalFoundries has positioned itself as a “high‑volume, high‑reliability” partner, focusing on mature nodes (14‑nanometer and 22‑nanometer) that serve automotive, industrial, and IoT markets. The company’s financial strategy under Hollister had emphasized building a robust capital base to support this niche while pursuing opportunities in the 7‑nanometer space.

On the day of the announcement, GlobalFoundries’ stock dipped 2.3% in early trading, reflecting investor concerns over leadership uncertainty. The company’s chief executive officer, James C. R. Smith, issued a note to shareholders in which he underscored the board’s confidence in Franklin’s ability to lead the finance function during the interim period. Smith also reiterated GlobalFoundries’ commitment to investing $1 billion in capital expenditures over the next two years to support the launch of new process technologies and the expansion of its Singapore plant.

The CFO’s departure also raises questions about the firm’s long‑term financial strategy. In an interview with the Singapore-based financial news outlet The Edge, the board’s chairman, Dr. Lee K. Chan, said that the search for a permanent CFO would be guided by a focus on “future‑ready leadership that can navigate the complex regulatory and economic environment in which GlobalFoundries operates.” He added that the firm is also evaluating “strategic partnership opportunities that could further strengthen our financial position and technology portfolio.”

Beyond the immediate financial implications, Hollister’s exit is seen by industry observers as a potential turning point for GlobalFoundries. Analysts at Gartner have noted that the firm’s current cost‑optimization measures—implemented under Hollister’s guidance—have helped keep its EBITDA margins above the industry average, but they caution that sustained growth will require more aggressive investment in 5‑nanometer and 3‑nanometer technologies, which are currently outside the company’s roadmap.

Franklin’s appointment brings a strong track record of financial oversight in the semiconductor space. According to his LinkedIn profile, Franklin earned an MBA from Stanford Graduate School of Business and a B.S. in Accounting from the University of Texas at Austin. He has been recognized by the American Institute of Certified Public Accountants for excellence in financial reporting and has served on the board of directors for several technology startups.

While the interim CFO status indicates that the board is still conducting a comprehensive search, the appointment of Franklin underscores GlobalFoundries’ commitment to maintaining a stable and experienced finance leadership. The company is expected to announce the outcome of its search by the end of the fiscal year, with the new CFO slated to begin duties in the next quarter.

In the interim, GlobalFoundries will continue its focus on delivering high‑volume, high‑reliability semiconductor solutions while gradually expanding its capabilities into advanced nodes. With Sam Franklin at the helm of finance, the company is positioned to navigate the challenging market environment and maintain its role as a critical partner for a diverse customer base that includes major players such as Qualcomm, AMD, and Bosch.

As the semiconductor industry faces rapid evolution, GlobalFoundries’ leadership decisions—particularly in finance—will be closely watched. The board’s decision to bring in a seasoned financial executive for the interim period reflects a broader industry trend of placing a premium on strong, adaptive financial stewardship to manage capital-intensive projects, navigate geopolitical uncertainties, and keep pace with technological change.