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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?