AMD names CEO from Lenovo ranks
AMD has named Rory Read, who ran Lenovo's US operations, as its new president and CEO.
Read, who is credited with helping Lenovo revamp its business and become a leading PC player, will be charged with bolstering AMD's growth prospects in mobile.
AMD chairman Bruce Claflin said in a statement:
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.
Read will be an easy fit into AMD, given his knowledge of the PC industry. However, Read will have to take AMD in new directions. AMD, a distant number two to Intel in the PC market, needs to figure out how it can be a tablet and mobile phone player. Read will also have to determine AMD's strategy regarding the ARM infrastructure.
Before Lenovo, Read was a long-time IBM executive. IBM sold its remaining stake in its PC business to Lenovo in 2005.
Thomas Seifert, interim CEO since January, will go back to being CFO.
Read said:
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.
Read leaves Lenovo in good standing. The company is firing on all cylinders, as it targets emerging markets, rides a corporate PC upgrade cycle and defends its share in mature regions such as the US.
Via ZDNet US