Items tagged with Rory Read

Surprise! AMD has a new chief and her name is Dr. Lisa Su. She replaces Rory Read, 52, who has stepped down as president and CEO as part of a transition plan that will have him support the new boss in an advisory role. Read will remain with AMD through the end of the year, at which point Dr. Su will be flying solo. Bruce Claflin, chairman of AMD's board of directors, dispelled any notions that there might exist some animosity between AMD and Read, at least publicly. To the contrary, Claflin says that Read and the board have been working on a leadership succession plan together and felt that now... Read more...
AMD announced its earnings today, with figures that generally reflected to poor state of the entire PC industry. Normally, this is where I'd delve into those figures and run the numbers. Not this time. AMD's conference call and Q&A session were interesting enough that the company's Q1 performance can be dealt with relatively quickly. The PC market was awful. AMD lost money. The company has enough cash on hand (thanks to selling its HQ in a lease-back arrangement) to make it through the second quarter. Computing solutions revenue really did take a hammering this quarter, falling to $751M (down... Read more...
Advanced Micro Devices (AMD) has a new Senior Vice President and Chief Financial Officer (CFO), and his name is Devinder Kumar, the Sunnyvale chip designer announced this week. The 57-year-old executive will report directly to AMD President and Chief Executive Officer (CEO), Rory Read. "Devinder has been with AMD for more than 28 years and is a talented finance veteran with deep industry knowledge," said Read. “As we accelerate our strategic growth initiatives, Devinder will play an integral role driving the new business model in the near term and strengthening AMD’s long-term financial... Read more...
After more than six months of high-to-mid profile executive departures, AMD has major news to announce on its new executive hire -- and he's a welcome addition. Starting today, Jim Keller will serve as a vice president and the company's Chief Architect for CPU Cores. Keller has spent more than thirty years in the semiconductor business, including a few at AMD. When AMD brought members of DEC's Alpha team aboard in the late 1990s, Keller was one of the CPU architects that came along. Having worked on Alpha's EV5, Jim was lead architect on the first K8 project (the first iteration of K8 was eventually... Read more...
When AMD told investors that its second quarter results would be significantly lower than anticipated, the company's stock price went into a skid. Historically, AMD's quarterly warnings have been followed by ugly earnings calls, filled with enough red ink to drown a small army of accountants. It is, therefore, a pleasant surprise to see that while the company took a nasty hit to overall revenue, with sales down 11% sequentially and 10% year-on-year, it managed to keep its head above water with a net income of $37 million. One of the keys to that achievement was the company's gross margin, which... Read more...
When AMD held its Analyst Day a few weeks ago, the company focused on how it was fundamentally changing its approach to semiconductor research and product development. Years of attempting to compete with Intel drained company coffers and exposed it to tremendous competitive pressure. Consumers unquestionably profited -- Intel's prices for various parts dropped dramatically in the early 2000s as AMD entered specific markets -- but Sunnyvale took a ferocious beating in the process. Forbes has published a major article on the company's turbulent last few years and current plans. It credits Dirk Meyer... Read more...
AMD announced its fourth quarter and 2011 results yesterday. The figures aren't bad in and of themselves, but the company's overall position headed into 2012 is decidedly uncertain. Yearly revenue was flat at $6.57B, with total net income for fiscal 2011 at $495M, up four percent from 2010. "AMD shipped more than 30 million APUs in 2011, resulting in record annual notebook revenue," said Rory Read, AMD president and CEO. "The unmatched combination of computing and graphics capabilities in our low-power "Brazos" platform has made it our fastest ramping platform ever, paving the way for continued... Read more...