AMD names new CEO from Lenovo

Aug 25, 2011
A worker displays an ADM wafer in 2006. The semiconductor maker picked an executive who oversaw the global expansion of Chinese computer giant Lenovo to lead it.

(AP) -- Chipmaker AMD says its new chief executive will be Rory P. Read, the chief operating officer of Lenovo Group.

Read replaces Thomas Seifert, the chief financial officer, who has served as interim CEO since January, when Dirk Meyer was ousted.

Inc. is Intel Corp.'s only sizeable competitor when it comes to making PC processors. It's also a leading maker of .

The board felt Meyer had not acted fast enough to get AMD chips into smartphones and tablets, which are starting to eat into PC sales.

Lenovo, which is based in China, is the world's third-largest maker of PCs.

Explore further: The New York Times to cut 100 newsroom jobs

not rated yet
add to favorites email to friend print save as pdf

Related Stories

AMD sees better profit margins in 2011

Nov 09, 2010

(AP) -- Advanced Micro Devices is raising its profit forecast as the company readies the rollout of an ambitious new line of computer processors.

AMD nearly doubles profit, but still seeking CEO

Apr 21, 2011

Advanced Micro Devices Inc. on Thursday reported that its net income nearly doubled in the first quarter as the computer industry benefits from strong corporate demand. But the company is still without a permanent ...

AMD's CEO resigns suddenly, board cites growth (Update)

Jan 10, 2011

(AP) -- Advanced Micro Devices Inc. forced out its CEO Dirk Meyer on Monday in a surprise twist of fate for a technologist who inherited the chip maker when it was in tatters and won fans on Wall Street for ...

Sales of new chip lift AMD to 2Q profit

Jul 21, 2011

Advanced Micro Devices Inc. has been punished so hard for unexpectedly ousting its CEO more than 6 months ago that the second-quarter profit it posted Thursday gave investors a measure of confidence about its direction.

AMD tops estimates with 4Q results

Jan 21, 2011

(AP) -- Advanced Micro Devices Inc. said Thursday that its fourth-quarter profit shrank from a year ago, when a big legal settlement it won from archrival chip maker Intel Corp. pumped up AMD's earnings.

Intel: $1.4B EU monopoly fine based on mistakes

Sep 15, 2009

(AP) -- Intel Corp. is claiming in court documents that European Union regulators made serious mistakes in levying a record euro1.06 billion ($1.45 billion) fine for monopoly abuse last May.

Recommended for you

The New York Times to cut 100 newsroom jobs

5 hours ago

The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.

What's PayPal's first solo move?

Sep 30, 2014

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

Sep 30, 2014

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

User comments : 0