Ruiz to move over to chairman; COO Dirk Meyer named as successor
AMD's board elected Meyer to the CEO spot effective immediately, AMD said. He was previously president and chief operating officer and has been with AMD for 12 years. Ruiz will become executive chairman and chairman of AMD's board of directors.
The chip maker also announced that it has decided to divest its handheld and digital TV chip businesses, which the company had merged into its consumer electronics group after the 2006 acquisition of ATI Technologies Inc. Last week, AMD announced it would take a charge of $880 million related to the impaired assets of those businesses.
AMD's revenue from continuing operations for the second quarter rose 3% from a year earlier, to $1.35 billion. But the revenue total was down 7% from this year's first quarter, and the company posted a net loss of $1.19 billion, or $1.96 per share, for the second quarter.
More: http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9110292&source=NLT_AM&nlid=1
AMD's board elected Meyer to the CEO spot effective immediately, AMD said. He was previously president and chief operating officer and has been with AMD for 12 years. Ruiz will become executive chairman and chairman of AMD's board of directors.
The chip maker also announced that it has decided to divest its handheld and digital TV chip businesses, which the company had merged into its consumer electronics group after the 2006 acquisition of ATI Technologies Inc. Last week, AMD announced it would take a charge of $880 million related to the impaired assets of those businesses.
AMD's revenue from continuing operations for the second quarter rose 3% from a year earlier, to $1.35 billion. But the revenue total was down 7% from this year's first quarter, and the company posted a net loss of $1.19 billion, or $1.96 per share, for the second quarter.
More: http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9110292&source=NLT_AM&nlid=1
