AMD CEO resigns to allow company to “grow quickly”

By on January 12, 2011
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VP and CFO Thomas Seifert to step in as interim CEO.

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AMD announced yesterday that CEO Dirk Meyer has resigned, a required change so that the company could “grow more quickly.” The CPU makers described Meyer’s resignation as “mutual.” In a statement, AMD praised Meyer for leading the company through a tough legal battle with Intel but said that the board believes it has an opportunity to increase shareholder value and will need “significant growth and a change in leadership” to accomplish that.

Vice President and Chief Financial Officer Thomas Seifert will step in as the interim CEO.

Following the news, AMD’s shared fell 34 cents (3.7%) to $8.85 during after-hours trading. The stock had closed at $9.19, up 36 cents, or 4.1% before the announcement.

Source: Yahoo! News.


Mufaddal Fakhruddin is the Editor for IGN ME and thinks writing in third person about himself in an about me section is weird.

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