AMD Bombshell: Dirk Meyer Out as CEO

“In a surprise announcement, AMD said today that CEO Dirk Meyer
has resigned as president, CEO and director of the company
effective immediately.

“Bruce Claflin, Chairman of AMD’s Board of Directors, is leading
a search committee to find a replacement for Meyer. Industry
veteran Claflin was also named Executive Chairman of the Board and
will assume additional oversight responsibilities at AMD (NYSE:
AMD) during the transition period to a new CEO, the company said.
Seifert will maintain his CFO responsibilities and has asked not to
be considered for the position of permanent CEO.

“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 (NASDAQ: INTC) and
delivering Fusion APUs to the market,” Claflin said in a
statement.”

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