Wednesday, November 26, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Twitter Tracks Apps Installed On Your Device, Introduces Offers
Ubisoft Apologizes For Assassin's Creed Unity Issues, Offers Free Game
Europe Wants Right-to-be Forgotten to Go Globally
Far Cry 4 Game Available For Free With Purchase of 840 EVO SSD
UK Music Industry Seeks For New Tax on CD Copying
Samsung's DeepSort Sorting Engine Prevails In Benchmarks
Sony Plans E-Paper Watch: report
HP Reports Fiscal 2014 Full-Year and Fourth Quarter Results
Active Discussions
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
 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 Adds The Mobile "Carrizo" Family of APUs to Its Roadmap
AMD Reveals Civilization: Beyond Earth Game Bundle, Overclocked Radeon R9 290X
AMD's Radeon R9 290X Graphics Card Now Available For Just $300
AMD Sales May Miss Estimates, New CEO Announces Restructuring
AMD Appoints Lisa Su as President and Chief Executive Officer
AMD To release Carrizo Notebook APUs Next Year
AMD Demonstrates Network Function Virtualization Solution on 64-Bit Embedded R-Series SoC
AMD To Showcase ARM Cortex-A57-Based Hadoop on Opteron Processors
AMD Moves Closer To The Introduction Of Project FreeSync Monitors
AMD Introduces DirectGMA on AMDs FirePro GPUs
AMD Launches AMD Radeon R9 285 Graphics, "Never Settle: Space Edition" Game Bundle
AMD Introduces New 8-core FX-series Processors

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .