Friday evening in the U.S. is typically the ideal time for a media outlet to break a story that could wreak havoc on Wall Street on Monday morning, leaving just the enough time to gather traction and positioning on search engines. Thomson Reuters probably did just that. Hot on the heels of successful APU and GPU announcements, with the launch of its “Carrizo” APU and Radeon 300 graphics cards, as well as breakthrough Fiji graphics processor; AMD’s stock finally started to post healthy gains. After being ‘in the wild’, losing 40% of its value over the past 12 months, falling to levels last seen in
Lisa Su faces another challenge as CEO of AMD as three key executives leave the company.
As we had reported earlier, the race to replace Rory Read as CEO between John Byrne and Lisa Su had been heating up for quite some time and now that race is over with today’s announcement. In today’s announcement, Dr. Lisa Su replaces the current CEO Rory Read who was more of a caretaker CEO for the company as they came out from the verge of collapse under the rule of Thomas Seifert. According to a statement from AMD’s investor relations, Read will continue to be with AMD (NASDAQ:AMD) in order to support the transition in an advisory role, remaining with the company through the
AMD is once again continuing on the company’s path of restructuring with another major reorganization of the company coming later this month.
So, AMD announced that they would be reshuffling the company’s corporate structure which includes some business unite consolidation and executive shuffling. First and foremost, they would be appointing Dr. Lisa Su as the COO from her current position as Senior Vice President and GM of Global Business Units. Anyone that knows how AMD works and what Dr. Lisa Su has been doing already knows that she’s effectively been the COO for quite some time and that the company had actually vacated that position a long time ago. Keep in mind that AMD’s current CEO, Rory Read, was once COO of Lenovo before he came from