Thursday, August 25th 2011
AMD Names Rory P. Read President and CEO
AMD announced that its Board of Directors has appointed Rory P. Read, 49, President and Chief Executive Officer of AMD, effective today. Mr. Read has also been appointed to the Company's board of directors. Read joins AMD from Lenovo Group, Ltd., where he was most recently President and Chief Operating Officer responsible for leading day-to-day global operations while overseeing the development and implementation of the company's growth strategy.
"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. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD."
While managing Lenovo's Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability. He was promoted to president and COO in 2009, helping to transform Lenovo into the world's fastest growing major PC manufacturer and achieving its largest worldwide market share ever. Prior to Lenovo, Read spent 23 years at IBM, where he held a broad range of management positions.
"I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," said Read. "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. 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."
Thomas Seifert, who served as interim Chief Executive Officer since January, will return to his role as Senior Vice President, Chief Financial Officer. Claflin, named Executive Chairman of the Board when he assumed additional responsibilities specific to AMD's search for a new CEO, returns to his role as AMD's Chairman of the Board.
"On behalf of my fellow directors, I would like to thank Thomas Seifert for serving as interim CEO," added Claflin. "Under Thomas' leadership, AMD has continued to make important progress across key areas of the business, successfully executing on major initiatives and new product introductions while improving the company's financial performance. We look forward to Thomas' continued contributions to the Company as Chief Financial Officer."
"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. His sound strategic thinking and natural customer orientation will help amplify the voice of the customer inside AMD."
While managing Lenovo's Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability. He was promoted to president and COO in 2009, helping to transform Lenovo into the world's fastest growing major PC manufacturer and achieving its largest worldwide market share ever. Prior to Lenovo, Read spent 23 years at IBM, where he held a broad range of management positions.
"I'm very pleased to be joining AMD at this important time in its history. AMD is a true innovator and is uniquely positioned to lead the industry forward, delivering the next big thing both within the PC ecosystem and beyond," said Read. "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. 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."
Thomas Seifert, who served as interim Chief Executive Officer since January, will return to his role as Senior Vice President, Chief Financial Officer. Claflin, named Executive Chairman of the Board when he assumed additional responsibilities specific to AMD's search for a new CEO, returns to his role as AMD's Chairman of the Board.
"On behalf of my fellow directors, I would like to thank Thomas Seifert for serving as interim CEO," added Claflin. "Under Thomas' leadership, AMD has continued to make important progress across key areas of the business, successfully executing on major initiatives and new product introductions while improving the company's financial performance. We look forward to Thomas' continued contributions to the Company as Chief Financial Officer."
19 Comments on AMD Names Rory P. Read President and CEO
Any one talking like this about AMD ? NO !
One is that more people know about Apple then they know about Intel or AMD, most people don't even have a vague idea of what Intel or AMD do. But they know of Dell, Apple and HP because of the immediate recognition it has in their lives, most people don't care who makes the parts inside the machines.
Another factor is that Steve Jobs is considered one of the ''founding fathers'' you could say of the PC industry, so he has a strong following in the industry, it was the same way with Microsoft when Bill stepped down, the media reported on it all over the place.
There are even movies that are all about Steve Jobs, Bill Gates etc and what they did, so they are almost treated as celebrates within the industry when stepping down. But when people from Intel and AMD step down, the first thing most people think is ''What is an Intel and AMD?'' lol
Maybe now with a new ceo he will finally kill the ATi brand off the minds of the rest of you.
Hopefully Rory P. Read can be a good leader.
J Sanders (1970-2002) >Hector Ruiz (2002-2008) > Dirk Meyer (2008-2011) > (Seifert as interim) Rory P. Read (2011 +)
I still vote for AMD buy ARM before ARM gets enough capital and assets to make that impossible.
but VIA will QQ much if this happened as they lose a competitor. Of course theres still the Intel Atom and AMD Fusion. but Intel are more bullies then competitors. meaning they will bully OEMs to drop their AMD line of systems and opt for more intel systems. so intel has overall more market share because they like to bully their way to the top.
Speaking of Via Nano....what the f**k happened to it? they seem to have dived into the nearest dark corner and not left it since. I heard they made a dual core version. but any news updates seem few and far between
To me its still ATI. AMD Technology Inc lol
Rory is a PC guy… not a stuff shirt executive and should bring synchronization and consorted efforts for all the pieces that AMD now has at their disposal. He’s a great fit and should be a good helmsman.
Seriously though, I know nothing about this guy, so have no opinion. I'm actually quite happy that hte company is no longer headless, and I assume that the board of directors chose someone with a vision of success already decided, so all I can do is wish AMD the best of luck, at this point.
I wonder if we'll see a change in how they do thier marketing? I know many people think this is one specific area that AMD needs to improve upon...