AMD: We Will Hire No CEO Before Its Time
AMD will not be rushed into hiring a CEO. Not by investors worrying about a share price that’s down by more than 20 percent so far this year. Nor by analysts wringing their hands that the search is proving more difficult than originally expected. Nor will it be rushed by journalists observing, as The Wall Street Journal did today, that the search to replace Dirk Meyer — who resigned suddenly in January after a row with the AMD board — has now entered its seventh month, and that the list of people who’ve turned AMD down grows ever longer. Among them: Pat Gelsinger, COO of EMC and a former CTO of Intel; Michael Capellas, the former CEO of WorldCom and Compaq Computer; and William Nuti, CEO of NCR.
Today it fell to Harry Wolin, AMD’s senior vice president and general counsel, to sound a bit like Orson Welles doing a 1970s wine commercial for Paul Masson. At the opening of AMD’s quarterly earnings conference call with analysts, Wollin made a statement that the search for a new CEO remains a “top priority,” but that meeting a timeline is “not the driving force for the search.” Finding the right person is. I hate to say it, but I knew it was going to be a complicated search.
Wolin doesn’t sound much like Orson Welles, but you can hear his statement below. And if you’re drawing a blank on the reference to Orson Welles in wine commercials, there’s an example of one from 1978 below that.