Sunday, April 23, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Questions Remain About The Fate Of Toshiba's HDD and SSD Business
SK Hynix Develops First 8Gb GDDR6
Call of Duty Game Returns to WWII
Twitch to Sell Video Games
Apple May Invest in Boeing Satellite Broadband Project
Chrome's Rumored Ad-blocker May Not Be Exactly an Ad-blocker
GM To Launch Electric Cars in China by 2020
New HP Zbook Laptops Take On Apple's Mac Pro
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > AMD CEO...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, January 11, 2011
AMD CEO Dirk Meyer Resigns Suddenly


AMD's chief executive resigned on Monday as the company said it was seeking a new CEO to boost the company's growth.

AMD forced out its CEO Dirk Meyer on Monday in a surprise twist of fate for a technologist who inherited the chip maker some years ago, when the company was in tatters, but soon managed to steer it through a turnaround.

AMD's Board of Directors said that it has appointed Senior Vice President and CFO Thomas Seifert, 47, as interim CEO following the resignation of Dirk Meyer as president, CEO and a director of the company.

A CEO Search Committee has been formed to begin the search for a new CEO. The Committee is led by Bruce Claflin, Chairman of AMD's Board of Directors, who has been named Executive Chairman of the Board as he assumes additional oversight responsibilities during the transition period. Seifert will maintain his current responsibilities as CFO and has asked not to be considered for the permanent CEO position, AMD said.

"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of GLOBALFOUNDRIES, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market," said Claflin.

"However, the Board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives."

Much of the reason for Meyer's departure had to do with currents of discontent on the board about AMD's choice not to pursue making chips for the mobile market other than netbooks, an AMD company source told Reuters.

In October, Meyer had told analysts that even though tablets like Apple's iPad were eating into demand for laptops, AMD would hold off on investing to develop microprocessors for that market until it grew more.

The announcement came the same day that AMD's rival Intel announced that it will pay $1.5 billion to Nvidia for a license to all of Nvidia's patents.

Seifert joined AMD in 2009, and has more than 20 years of general management, global operations and financial management expertise. Immediately prior to joining AMD, Seifert served as COO and CFO of Qimonda AG, where he led the formation and subsequent IPO of the company. At Infineon AG, Seifert served as senior vice president and general manager in its Wireless Business Group.

"AMD enters 2011 with considerable product and financial momentum. Our roadmap for the year, including our "Llano" APU and 32nm "Bulldozer" based processors remain on track," said Seifert. "I believe we have significant opportunities to cement our leadership positions in several key market segments based on the strength of our upcoming products."


Previous
Next
Microsoft Ousts Server Unit Head        All News        Joomla 1.6 Available Now
Google Drops Chrome's H.264 Support in Favor Of WebM     General Computing News      Joomla 1.6 Available Now

Get RSS feed Easy Print E-Mail this Message

Related News
AMD Radeon RX 500 Series Are Launching
AMD's Highest-Performance 6-Core Ryzen 5 Processors Now Available
AMD Buys Wireless Virtual Reality IP from Nitero
Upcoming AMD Ryzen 5 1600 Seems To Beat Intel Core i7-7700K
Optimizations Promise Up to 30 Percent Performance Uplift in Ashes of the Singularity DirectX 12 Benchmark With AMD Ryzen
AMD Ryzen 5 CPUs For Desktops Launching April 11 Worldwide
AMD Comments On Thread Scheduling, Temperature Reporting Issues On Ryzen CPUs
AMD Previews "Naples" Server Processor, Coming in Q2 2017
AMD Ryzen 7 Desktop Processors Launch, Adding Pressure To Intel
GDC 2017: AMD Unveils Vega Retail Name, Partners With Bethesda And Talks About Asynchronous Reprojection
AMD Launches Ryzen PC Chips, With A Price And Performance That Could Threaten Intel
Nvidia, and AMD Increase GPU Attach Rates While Total GPU Shipments Remain Flat

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .