Ex-AMD chief Hector Ruiz caught up in insider-trading scandal
By Nilay Patel 
posted Oct 27th 2009 8:11PM
posted Oct 27th 2009 8:11PM
Hector Ruiz certainly led a checkered career as CEO of AMD, earning the highest CEO salary in the semiconductor industry as his company's stock dropped, its products dragged, and its fortunes sank, but the man didn't stop there -- it looks like he may also have been involved in a little illegal insider trading on the side. According to the Wall Street Journal, Ruiz is the heretofore unnamed AMD executive who illegally tipped off a hedge fund investor about the company's big spinoff of Globalfoundries, ultimately leading to criminal and civil charges against Galleon and six of its employees. Ol' Hec's currently in the clear, as he hasn't been charged with anything, but considering he's now the chairman of Globalfoundries, well, let's say things are about to get a little sticky. We'll let you know -- we've got a feeling Gizmondo's Stefan Eriksson is going to look like small potatoes when this is all over.
Hector Ruiz certainly led a checked career as CEO of AMD, -- isn't that supposed to be checkered?
Maybe he checked it off his bucket list. CEO...check! Insider trading...check!
Hector Ruinz?
Couldn't have happened to a more deserving former ceo, hope they throw the book at him!
What book do you propose they throw?
The bible, the quran, any other useless fiction
@Redsharkk
Well, I guess they'll have to swear him in on Sarah Palin's new book then.
AMD has no hope with this guy, how is he still around,
Jerry Sanders needs to make a comeback
@daniel
or any other book written by any politician for that matter. try not to skew things to one side or the other, let's face it they are all bad, one politician shouldn't get any more attention than the other for making crap up. and that is a very 'convenient truth'.
The book was Moore's law.
LOOK BUDDY, don't think everyone is a useless atheist like you are, some of us have respect.
I would say bring back Jerry Sanders to AMD, but I know he is too old for the job. though I am sure most will agree he did a great job the last few years before he left AMD. BTW this comment probably has no relevant to the topic, I though i just stay it anyways.
he is the martha stewart of the chip industry.
I hope they sentence this heathen to his own talk show too.
But he will make millions off da book deal.
I never saw him make a tasteful thanksgiving cornucopia centerpiece
well.. I hope he wasn't doing shady things while working at AMD.. this doesn't change my thoughts on AMD as a compony though, I still think they are an honest corporation. I've owned the stock for a couple years and still have faith that they will make some sort of comeback or whatever. . anyways.. many people have done things much worse than this man.. insider trading is not good but it happens everyday on wall street and a lot of people don't get caught.. you live and you learn
AMD continues to be the fail.
yea, but has he crashed a stolen Enzo?
exactly, no trashed ferrari, no story.
Give him time, he's not in jail yet.
Next thing you know we'll find out he had some secret underground relationship with Intel to make him drive amd to the ground.
I tried to email this guy once to ask him if I could get his wife's enchilada recipe but he never replied.
why are old men such greedy bastards. this guy has enough money, and he's about to die! shouldnt he be caring about other things?
He wants to be buried in a coffin made from gold. Your just being selfish for trying to stand in his way.
Hector the sector wrecker.
Worthless gas bag ran Motorola into the ground too.
But I should be thanking him, his decisions allowed the company I worked for at the time to explode and I made some good monies on stock options.
What is it with all this shady tech business guys!? First Apple/Jobs, AMD, who's next!?
It's not new. It's called American Style Capitalism.
soooooo Greedy,how was this old man spending that money ?
Look at the GREAT job he's done on the board at Kodak.
the Wall Street Journal... like these r someone you should believe or trust.
I hope he gets life!! :p J/K
Man he destroyed our company. Coming in after Jerry who did an excellent job and had this company on the path to gaining even more market share and on the road to profitability it was a big shock. All of a sudden mass layoffs and idiotic decisions. It was like he came in greedy as his first order of business was a raise. He made the company look like it was cocky. What I mean by this is AMD was still in infancy when giving Intel a run for the money but then he bought ATI and moved to a new campus in Austin when the facility we were already in was just fine! We tested Athlon literally in a trailer! That wasn't their only building though. They had 2 nice, perfectly working buildings that could've been expanded if needed. We employees had no complaints. It's sad to see how it is now compared to when Jerry was here. It sucks to see the co-workers we loved gone.
Engadget I hope you wouldn't release my e-mail address or other info about me to anyone asking.
See, it pays to cheat, steal and be a part of the "old boy" network. Unbelievable...
At that age, you need a good scandal to keep you alive.