14 DAY TRIAL // Globalfoundries has announced the appointment of Magnus Matthiasson as Chief Procurement Officer (CPO).
He will be tasked with leading the global purchasing activities and will work from the offices in Silicon Valley.
Essentially, he will need to weigh Globalfoundries' prospective investments and the relationships within the supply base.
“Given the magnitude of our annual capital-equipment and purchasing investments, the right leadership to drive our strategic supply chain relationships and procurement operations is critical to our ability to provide value to our customers and grow our business profitably,” said Durn, the company's chief financial officer, to whom Matthiasson will report.
“With Magnus in place, our aim is to bolster a world-class procurement organization with programs that continuously optimize our purchasing and materials spend and management capabilities.”
The company has plans for over $3 billion spending in 2012 (2.22 billion Euro), as part of a three-year $11 billion investment plan (8.17 billion Euro).