AMD's Thomas Seifert resigns; new CFO search begins

AMD's Thomas Seifert resigns; new CFO search begins

Summary: AMD's CFO departs the company as the processor giant tries to reassure investors and analysts that there was no bad blood.

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AMD chief financial officer Thomas Seifert has submitted his resignation. Little information has been revealed as to why Seifert is leaving other than the standard "to pursue other opportunities" reason.

The semiconductor maker was quick to assure everyone in a statement on Monday that "Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures."

Devinder Kumar, senior vice president and corporate controller, will serve as interim chief financial officer AMD searches for Seifert's replacement. Kumar has served as the Company's corporate controller since 2001.

To further prove that, AMD cited that Seifert will remain with the company until September 28 to assist with the transition to the interim CFO.

Seifert actually once filled in at AMD as interim CEO while the company was searching for a new chief executive officer last year. That job was given to the current AMD president and CEO, Rory Read.

Image via AMD

Topics: Tech Industry, Hardware, Processors

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