Hot Swap at the Top: AMD CEO Out
AMD’s looking for a new CEO. Moments ago, the company announced that Dirk Meyer, who has served in that position since July of 2008, is resigning. AMD is spinning Meyer’s departure as the result of a “mutual” agreement, but the fact that it’s effective immediately and that CFO Thomas Seifert has been tapped to replace him suggest it may have been otherwise.
Seifert isn’t even a candidate for the permanent position. And Meyer was talking up AMD at CES just last week.
“Dirk became CEO during difficult times,” AMD chairman Bruce Claflin said in a statement. “He successfully stabilized AMD….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.”
AMD reports fourth-quarter financial results Thursday.