GlobalFoundries announced that Chief Financial Officer John Hollister has resigned from his position for personal reasons, effective immediately.
Hollister, who joined the company on February 5 2024, succeeded former CFO David Reeder and led the finance team through a period of significant capital investment, including the $16 billion U.S. manufacturing expansion and a €1.1 billion upgrade of its Dresden facility.
Senior Vice President of Business Finance, Operations and Investor Relations Sam Franklin will serve as interim CFO. Franklin, who joined GlobalFoundries in 2022, brings more than 18 years of corporate finance experience and previously held a senior role at Mubadala Investment Company, the firm’s largest shareholder.
CEO Tim Breen said the transition would not disrupt the company’s financial operations or its ongoing capital‑expenditure plans and that Franklin would maintain the current financial strategy while the board searches for a permanent replacement.
GlobalFoundries is scheduled to host a conference call on November 12 2025 to review third‑quarter 2025 results. The company expects Q3 revenue to decline about 4 % to $1.68 billion and net income to fall 8 % to $165.4 million, while remaining within or above previously announced guidance ranges.
The company has pledged $16 billion in investment to build additional U.S. manufacturing capacity and plans a €1.1 billion expansion of its Dresden plant, positioning it to meet growing demand in automotive, smart mobile, and IoT markets.
Analysts have noted that GlobalFoundries’ adjusted gross margin has remained in the 20‑30 % range for the past four years, citing pricing pressures and increased competition. The CFO transition comes amid these market challenges.
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