Update: Former AMD Chief Ruiz Steps Down As Head of Spinoff Company

Hector Ruiz, former CEO of Advanced Micro Devices, is leaving his job with an AMD spinoff company after reports linking him to an insider trading case. Ruiz is taking a leave from his position as chairman of chip manufacturer GlobalFoundries, then will resign officially on Jan. 4. Last week, the Wall Street Journal identified Ruiz as the AMD executive who shared confidential information about his company with a trader who has since been arrested as part of the Galleon Group scandal. Ruiz has not been charged in the case. [Associated Press]