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AMD Names New CEO

25 Aug, 2011 By: Chris Tribbey

Semiconductor company AMD has named Rory Read, the former president of PC manufacturer Lenovo, as its new CEO.

Read also will serve on AMD’s board of directors, the company announced.

“Rory is a proven leader with an impressive record of driving profitable growth,” said Bruce Claflin, chairman of AMD’s board of directors. “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.”

Read said his goal with AMD — its computing work is used for a variety of PCs, gaming consoles and Internet servers — will be to deliver “the next big thing both within the PC ecosystem and beyond.”

“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,” he said. “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.”

Read replaces AMD SVP and CFO Thomas Seifert, who has served as interim CEO since January.

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