AMD finally has a new CEO, after multiple ups and downs and more than a few replacements we find former Lenovo President and Chief Operating Officer Rory Read as the number one guy. According to IBM Rory has an impressive resume that includes 23-year at IBM holding a number of management positions.
AMD’s CEO history has been somewhat murky since Hector Ruiz (the man most people loved to hate) transferred (for lack of a better word) from AMD proper to Global Foundries under the Asset Lite program and AMD put together to lower overhead costs. After Ruiz left Dirk Meyer (one of the men responsible for the Athlon CPU) took over. It was felt that AMD needed to return to its winning roots and that perhaps Myer would be the one to do it. However, legal bills and the after effects of the ATi acquisition hurt AMD who did not return to having a profitable quarter until after Meyer worked out a $1.25 Billion settlement with Intel over their extended Anti-Trust litigation. Meyer left the company in January of this year. Since that time Thomas Seifert has been the acting CEO. Thomas will return to the post of Chief Financial Officer.
We wish Mr. Read well and luck in brining AMD around and hope that he does have the skills to make headway. Still when we see him we will always remember Lenovo’s LePhone…
Discuss this in our Forum