Advanced Micro Devices Inc.’s former Chief Executive Officer Hector Ruiz has opened a consulting company, aiming to win business by touting his experience in leading strategy and transactions while at the chipmaker.
Ruiz founded Bull Ventures LLC with Bharath Rangarajan, another former AMD executive, in San Francisco, according to the firm’s website. Neither responded to requests for an interview. Ruiz resigned in November 2009 as chairman of Globalfoundries Inc., a chip manufacturer created from the spinoff of factories from AMD through an investment from the government of Abu Dhabi.
The company is Ruiz’s return to business following his association with the Galleon Group LLC insider-trading case. A witness for the prosecution of Raj Rajaratnam, co-founder of Galleon, said that Ruiz was a source of information on transactions by AMD that were then used as the basis of insider trades. Ruiz hasn’t been charged with any crime.
The Globalfoundries spinoff was one transaction that Anil Kumar, a former director at McKinsey & Co. who testified against Rajaratnam, said Ruiz provided information on. Rajaratnam was found guilty May 11 of all 14 counts against him.
Bull Ventures aims to provide advice to companies who want to “grow from good to great,” according to the website. The company says it helps corporate management teams develop and execute “industry changing strategies.”
Under Ruiz, AMD made headway against Intel Corp. in the market for personal-computer processors, helping the company’s stock almost triple to a high of $42.10 in 2006. By the time Ruiz stepped down as CEO in 2008, AMD had lost most of the PC market share it gained, and its stock had fallen to less than $6.
Drew Prairie, a spokesman for Sunnyvale, California-based AMD, declined to comment. Globalfoundries doesn’t comment on former employees, said Travis Bullard, a spokesman for the company.