AMD CEO's Board Fallout
Advanced Micro Devices Inc.’s board was concerned for nearly a year that Chief Executive Dirk Meyer wasn’t doing enough to get the chip maker into markets for newer mobile devices, according to people familiar with the matter.
Their concerns came to a head after a November meeting between the CEO and fellow directors to review AMD’s strategy. More recently, directors lined up against the longtime AMD executive, forcing his sudden departure on Monday, a move that surprised investors and sent shares in the microprocessor maker tumbling.
Mr. Meyer, who was named CEO in July 2008 after holding chief operating officer and engineering posts at the Sunnyvale, Calif., company, had performed well at cost-cutting and building products to continue its longtime battle against Intel Corp. in chips that power personal computers, those people said. But board members were not persuaded that Mr. Meyer had a convincing strategy for expanding into new semiconductor markets, including devices for tablet computers, they added.
