AMD appoints new CEO as losses continue

AMD replaced its CEO Hector Ruiz as it reported its seventh straight quarterly loss Thursday.

Advanced Micro Devices has replaced Hector Ruiz with Dirk Meyer as its CEO, as the company reported its seventh consecutive quarterly net loss on Thursday.

AMD's board has elected Meyer to the CEO spot effective immediately, AMD said. He was previously president and COO and has been with AMD 12 years. Ruiz will become executive chairman and chair of AMD's board of directors.

The chip maker also announced that it has decided to divest its handheld and digital TV businesses. The company had merged the businesses into its consumer electronics group after the 2006 acquisition of ATI. Last week, AMD announced it would take a charge of US$880 million related to impaired assets of those businesses.

AMD's revenue from continuing operations for the second quarter rose 3 percent from a year earlier, to US$1.35 billion. But the company still posted a net loss of $1.19 billion, or $1.96 per share.

(More to come.)

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Struggling for Christmas presents this year? Check out our Christmas Gift Guide for some top tech suggestions and more.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?