AMD CEO out, search on for new leader

AMD and Dirk Meyer in 'mutual agreement' that he step down immediately

Looking for better growth and financials, chip maker AMD has come to a parting of the ways with CEO Dirk Meyer.

The company announced Monday that after a "mutual agreement" with the board of directors, Meyer will step down immediately, and CFO and Senior Vice President Thomas Seifert will step in as interim CEO.

"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives ," said Bruce Claflin, AMD's chairman. "However, the board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns."

Claflin said a change in leadership will help AMD achieve its goals.

Dan Olds, an analyst with The Gabriel Consulting Group, said he's not surprised to see AMD lose another CEO, since the company is still behind in its longstanding competition with Intel .

"Although AMD has kept running in the two-horse x86 processor race, they haven't been able to keep up with Intel on a technical or financial basis," added Olds. "They've been late with products that might have allowed them to pull ahead of Intel and have lagged in terms of profitability, as well."

Olds noted that buying graphics company ATI has paid AMD some dividends but wasn't enough to give the company the push it needs.

"That division is performing well, but we're still waiting for the synergistic products that were supposed to revolutionize the industry," he said. "At this point, we don't know if Meyer jumped or was pushed, but when a sports team isn't performing up to expectations, it's usually the coach who pays the price. I think that's what we're seeing here."

AMD reported that a CEO Search Committee already has been formed.

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin or subscribe to Sharon's RSS feed . Her e-mail address is sgaudin@computerworld.com .

Read more about processors in Computerworld's Processors Topic Center.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags IT industryCIO roleComponentsIT LeadershipprocessorsIT managementintel

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

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

Sharon Gaudin

Computerworld (US)
Show Comments

Essentials

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

GGG Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

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.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?