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: Brazil's Coelho offers $100,000 for N. Korea parody film

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

2012 movie massacre hung over 'Interview' decision

3 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

9 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

12 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.