AnandTech is reporting Eric Demers is leaving AMD. This apparently was backed up with an official statement from AMD. Here is what they both had to say,

I just found out that AMD's Eric Demers (Corporate VP & CTO, Graphics Division) is leaving the company at the end of this week. He's not going to Intel or NVIDIA but I suspect that someone of Eric's talents will remain in the industry. I just had dinner with Eric a couple of weeks ago and he seemed very positive on AMD's roadmap going forward. Given how important the GPU is becoming in this ever expanding industry, someone like Eric is in very high demand.

We now have an official statement from AMD:

Eric Demers, AMD Corporate Vice President and CTO, Graphics Business Unit, has decided leave AMD to pursue other opportunities. AMD Chief Technology Officer Mark Papermaster will assume interim responsibility for the Graphics Business Unit CTO role until a replacement is found. AMD remains fully committed to our critical graphics IP development and discrete GPU products. We have a tremendous depth of talent in our organization, a game plan that is resonating with our customers and our team, and we are continuing to bring graphics-performance-leading products to market. We will attract the right technology leader for this role. We thank Eric for his contributions to the business and wish him well in his future endeavors.