| Thread Tools |
11th January 2011, 12:55 | #1 |
Madshrimp Join Date: May 2002 Location: 7090/Belgium
Posts: 79,021
| AMD Appoints Thomas Seifert as Interim CEO; Dirk Meyer Resigns AMD (NYSE: AMD) today announced that its Board of Directors has appointed Senior Vice President and CFO Thomas Seifert, 47, as interim CEO following the resignation of Dirk Meyer, 49, as president, CEO and a director of the company effective immediately. 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. “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.”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. In commenting on Seifert, Claflin said, “During his tenure at AMD, Thomas helped strengthen the company’s balance sheet while demonstrating strong leadership and winning the respect of his peers. His operations and finance experience make him an excellent choice to guide the company as interim CEO.” AMD Announces Certain Preliminary Fourth Quarter 2010 Results AMD is announcing certain preliminary results for the fourth quarter 2010. Fourth quarter revenue increased 2 percent sequentially to approximately $1.65 billion and gross margin was approximately 45 percent. In addition, the company reaffirms its 2011 annual financial guidance as disclosed at its Financial Analyst Day last November. AMD plans to release its final results for the fourth quarter after market close on Thursday, January 20, 2011, with a conference call at 2 p.m. PT/5 p.m. ET to provide additional details. About AMD AMD (NYSE: AMD) is a semiconductor design innovator leading the next era of vivid digital experiences with its ground-breaking AMD Fusion Accelerated Processing Units (APUs). AMD’s graphics and computing technologies power a variety of devices including PCs, game consoles and the powerful computers that drive the Internet and businesses. For more information, visit http://www.amd.com.
__________________ |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
AMD's CEO Dirk Meyer Resigns | jmke | WebNews | 0 | 11th January 2011 07:53 |
AMD Announces Widespread Availability and Broad Global OEM Support for New Quad-Core | jmke | WebNews | 0 | 13th November 2008 16:17 |
AMD Board of Directors Elects Dirk Meyer President and CEO | jmke | WebNews | 0 | 18th July 2008 08:15 |
AMD Appoints Emilio Ghilardi to Head EMEA Region | jmke | WebNews | 0 | 24th June 2008 08:34 |
AMD GAME! Enables Console-like Simplicity for Mainstream PCs | jmke | WebNews | 9 | 19th May 2008 20:51 |
AMD Introduces ‘AMD Business Class’, Designed With Business in Mind | jmke | WebNews | 0 | 28th April 2008 09:33 |
AMD Launches World’s First x86 Triple-Core Processors | jmke | WebNews | 0 | 27th March 2008 15:16 |
AMD appoints Ahmed Mahmoud as new CIO | jmke | WebNews | 0 | 11th March 2008 10:03 |
AMD says no CEO changes planned | Sidney | WebNews | 0 | 10th April 2006 05:35 |
Dell CEO: "My Guess is We Are Going to Want to Add that AMD Product Line…" | jmke | WebNews | 1 | 16th November 2004 03:55 |
Thread Tools | |
| |