Former Lenovo Exec Becomes AMD’s CEO

Published:2011/8/26 4:03:00 Author:Amy From:SeekIC

Advanced Micro Devices Inc (AMD), a true innovator and an industry leader of differentiated products, recent announced that it appointed Rory Read, a longtime IBM exec who most recently was president and chief operating officer at PC vendor Lenovo Group Ltd., as AMD’s CEO.

The appointment of Read, 49, caps a seven-month search for a permanent CEO after Dirk Meyer resigned in January under pressure from AMD’s board. Read was also appointed to AMD’s board of directors, according to the company.

Read worked for IBM for 23 years, and held a wide range of management positions, AMD said. He moved in 2006 to Lenovo-which bought AMD’s PC business and, in 2009, was promoted to president and COO.

"As president and COO of Lenovo he helped take the company into dynamic new markets while growing market share and expanding profitability," said Bruce Claflin, chairman of AMD’s board of directors. "He is ideally suited to accelerate AMD’s evolution into the world’s leading semiconductor design company."

Read was pleased to join the AMD, "AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," Read said. "AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I’m excited to be joining AMD’s employees as we write the next chapter not just for the company, but for the industry and consumers around the world."

Claflin thanks Thomas Seifert, who was AMD’s interim CEO since January, for his leadership of the company on a temporary basis. Seifert will return to his role as AMD’s senior vice president and chief financial officer.

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