AMD CEO Resigns

The departure of Dirk Meyer is a surprise announcement in the face of AMD’s recovery. Despite bringing AMD back from the edge of disaster, the turnaround apparently was not enough for the board of directors in their official statement confirming the CEO’s resignation:

“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.”

His temporary replacement will be CFO Thomas Seifer until the board finds a suitable replacement.

Source:
AMD