New CEO for AMD
Rory Read moves from Lenovo to take lead at AMD
AMD has announced the appointment of Rory Read as its new president and CEO.
Read joins the company from Lenovo, where he served as president and COO, and where, as head of Lenovo's Americas Group, he led drove double-digit revenue growth and market share gains. Read also held various management positions with IBM for 23 years.
He replaces Dirk Meyer, who left the company in January.
Bruce Claflin, chairman of AMD's Board of Directors commented: "Rory is a proven leader with an impressive record of driving profitable growth. He is ideally suited to accelerate AMD's evolution into the world's leading semiconductor design company. As President and COO of Lenovo he helped take the company into dynamic new markets while growing market share and expanding profitability. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD."
"I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," said Read. "AMD has strong momentum and the opportunity to continue profitably gaining share based on its highly differentiated products, solid financial foundation, and passionate and committed employees. I'm excited to be joining AMD's employees as we write the next chapter not just for the company, but for the industry and consumers around the world."
Thomas Seifert, who served as interim CEO, will now return to the role as senior vice president, chief financial officer.