Boardroom dissent over lack of market share gains over the last two years as well as a missed opportunity to play in the rapidly expanding tablet PC market has seen Dirk Meyer, President of AMD resign his position. CFO, Thomas Seifert will take on the position while a search for a permanent replacement in undertaken.
"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of GLOBALFOUNDRIES, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market," noted Bruce Claflin, Chairman of AMD's Board of Directors. "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. We believe a change in leadership at this time will accelerate the company's ability to accomplish these objectives."
Former CEO Hector Ruiz said in 2008 when Mayer was appointed that he was, “a gifted leader who possesses the right skills and experience to continue driving AMD and the industry forward in new, compelling directions.”