[News] Chip Industry Shake-Up: GF, Skyworks, and Arm China Name New CEOs amid Headwinds

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While Intel is still in its quest of finding a new CEO to turn the tables, it may not be the only tech giant in this position. On February 5^th, three semiconductor heavyweights—GlobalFoundries, Skyworks, and Arm China—appointed new leaders as they work to overcome the headwinds.

GlobalFoundries

Amid intense competition with Chinese rivals like SMIC and Huahong, GlobalFoundries has appointed company veteran Tim Breen as its new CEO. The change will take effect on April 28, 2025, according to its press release.

While GlobalFoundries exited the race for cutting-edge chips in 2018, it remains a leader in specialty markets like radio-frequency and automotive chips, as noted by a Reuters report.

In the third quarter of 2024, the U.S.-based foundry ranked 5th in revenue, with a 4.8% market share, behind TSMC, Samsung, SMIC, and UMC, according to TrendForce.

Though the company secured $1.5 billion in U.S. subsidies to expand chip production and support domestic manufacturing, it has been struggling with sluggish demand in industrial and automotive end markets lately.

A previous Bloomberg report suggested that GlobalFoundries and STMicroelectronics’ joint fab project in France has stalled, with construction now suspended after 18 months of slow progress.

Arm China

According to China’s media outlet ijiwei, Arm Holdings PLC’s Chinese venture, Arm China, officially announced the appointment of Chen Feng as its new CEO. Notably, Chen was a former VP of local chipmaker Rockchip.

An internal memo cited by the report discloses that on February 5th, Chen officially joined the company as its new leader.

The ijiwei report notes that as the new CEO of the unit, Chen will help the UK-based company adapt to the changing landscape, as the rise of more affordable AI, introduced by DeepSeek, is creating new tech winners and losers, the report adds.

At Arm’s latest earnings call on Wednesday, the company said it no longer expects to hit the high end of its full-year forecast. According to Reuters, the company narrowed its FY25 revenue forecast to $3.94 billion–$4.04 billion from $3.8 billion–$4.1 billion.

This comes after AMD’s weak forecast earlier this week, raising concerns about the AI hardware boom, as highlighted by Bloomberg.

Skyworks

Meanwhile, Apple supplier Skyworks Solutions forecasted a decline in mobile revenue and projected lower-than-expected profits for the quarter, according to Reuters.

Notably, the company also appointed former Intel and Inseego executive Philip Brace as CEO and president, effective February 17th, as per its press release.

The Reuters report highlights that slower EV adoption and excess chip inventory have pressured analog chipmakers like Skyworks.

According to Reuters, Skyworks expects Q2 revenue between $935 million and $965 million, aligning with estimates. For Q1, which ended December 27, the company reported $1.07 billion in revenue.

(Photo credit: GlobalFoundries)