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A highly qualified replacement steps up to the plate
In an unexpected turn of events, AMD’s president and CEO Rory Read has stepped down with Dr. Lisa Su replacing him. The company released a press release stating that Read, as part of the AMD's transition plan, will maintain an advisory role with the company till the end of 2014 to help Dr. Su in her new role as president and CEO.
“I am deeply honored to have this opportunity to lead AMD during this important time of transformation, said AMD’s new president and CEO Dr. Lisa Su. “Our world-class technology assets combined with the incredible talent and passion of the AMD team provide us with a unique opportunity to shape the future of computing. I look forward to expanding on the strong foundation we have built under Rory’s leadership as we develop industry-leading technologies and products for a diverse set of markets to drive sustainable and profitable growth.”
According to AMD chairman of the board of directors Bruce Claflin, the transition of leadership was planned as a joint effort between Read and the board. Claflin went on to say that Dr. Su’s “expertise and proven leadership” makes her the ideal person to lead the GPU manufacturer and thanked Read for his accomplishments and contributions to the company.
Over the last three years under Read’s leadership, AMD was able to return to non-GAAP profitability, reduce operating expenditures by 30 percent since 2012, and maintain a cash reserve of around $1 billion.
Dr. Su has only been with AMD since 2012 where her current position, prior to the promotion, was chief operating officer. Before that, she worked at Freescale Semiconductor, Texas Instruments, and IBM. She has a doctorate degree in electrical engineering from the Massachusetts Institute of Technology and has published 40 technical articles.
What do you think about Read’s departure and Dr. Lisa Su replacing him? Is this a good move by AMD? Sound off in the comments below!
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