This past March, Advanced Micro Devices, Inc. (NYSE:AMD) hired Bruce Claflin to replace Hector Ruiz. It is a good thing that Ruiz was replaced back then because the former AMD Chairman is now involved with a controversial case.

Supposedly Ruiz is being investigated for providing insider information to the Galleon Group’s Danielle Chiesi. Chiesi was arrested earlier this month for generating over $25 million in illegal profits. Ruiz had become chairman of GlobalFoundries Inc., an AMD spin-off, after being replaced by Claflin.

Galleon Group portfolio manager and founder Raj Rajaratnam was also arrested for receiving insider information. Galleon Group is a hedge fund based in New York. Rajaratnam said that he plans to fight the insider-trading charges.

Advanced Micro Devices, Inc. (NYSE:AMD) has announced that they have hired Bruce Claflin as the chairman of the company board of directors.  Bruce replaces former CEO and Chairman Hector Ruiz.  Ruiz is currently chairman of The Foundry Company.

Claflin has been on AMD’s board of directors since 2003.  Dick Meyer will remain the CEO of the company.

Waleed Al Mokarrab has also been appointed to the board of directors.  Waleed is the COO of Mubadala Development Company, based in Abu Dhabi.

Recently AMD spun off their manufacturing operations to Advanced Technology Investment Company (ATIC) and Mubadala.  AMD will be receiving $700 million in exchange for ownership in The Foundry Company from ATIC.

[via CNET]