GlobalFoundries Inc. appointed Bobby Yerramilli-Rao as an independent director of the company's board of directors. Dr. Yerramilli-Rao is currently chief strategy officer and corporate vice president of corporate strategy at Microsoft, where he is responsible for developing and driving growth-oriented strategies. Dr. Yerramilli-Rao's appointment is effective immediately and expands the board to 11 directors, including five independent directors.

He will be a member of the Strategy & Technology Committee. Prior to joining Microsoft in 2020, Dr. Yerramilli-Rao served as co-founder and managing partner of Fusion Global Capital, which focused on accelerating the growth of emerging software and cloud computing companies. Before that, he served as corporate strategy director of Vodafone Group responsible for strategy globally and acquisitions related to digital services.

He spent more than a decade in the at McKinsey & Company rising to partner and co-leader of the TMT practice.