{"id":15171,"date":"2011-08-26T18:58:33","date_gmt":"2011-08-26T08:58:33","guid":{"rendered":"http:\/\/power-up.space\/?p=15171"},"modified":"2011-08-26T18:58:33","modified_gmt":"2011-08-26T08:58:33","slug":"amd-names-rory-p-read-president-and-ceo","status":"publish","type":"post","link":"https:\/\/www.impulsegamer.com\/wordpress\/?p=15171","title":{"rendered":"AMD Names Rory P. Read President and CEO"},"content":{"rendered":"

28-year industry veteran brings extensive track record of growth through transformation and strong customer perspective
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\nSydney, Australia<\/strong> \u2014 Aug 26, 2011<\/strong> \u2014 AMD\u00a0 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\u2019s board of directors.<\/p>\n

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\u2019s growth strategy.<\/p>\n

\u201cRory is a proven leader with an impressive record of driving profitable growth,\u201d said Bruce Claflin, Chairman of AMD’s Board of Directors.\u00a0 \u201cHe is ideally suited to accelerate AMD\u2019s evolution into the world\u2019s 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.\u201d<\/p>\n

While managing Lenovo\u2019s Americas group, Read drove double-digit revenue growth and market share gains, reversing operating losses and delivering consistent profitability.\u00a0 He was promoted to president and COO
\nin 2009, helping to transform Lenovo into the world\u2019s fastest growing major PC manufacturer and achieving its largest worldwide market share ever.\u00a0 Prior to Lenovo, Read spent 23 years at IBM, where he held a broad range of management positions.<\/p>\n

\u201cI\u2019m very pleased to be joining AMD at this important time in its history.\u00a0 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,\u201d said Read.\u00a0 \u201cAMD 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.\u00a0 I\u2019m excited to be joining AMD\u2019s employees as we write the next chapter not just for the company, but for the industry and consumers around the world.\u201d
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\nThomas Seifert, who served as interim Chief Executive Officer since January, will return to his role as Senior Vice President, Chief Financial Officer.\u00a0 Claflin, named Executive Chairman of the Board when he assumed additional responsibilities specific to AMD\u2019s search for a new CEO, returns to his role as AMD\u2019s Chairman of the Board.<\/p>\n

\u201cOn behalf of my fellow directors, I would like to thank Thomas Seifert for serving as interim CEO,\u201d added Claflin.\u00a0 \u201cUnder Thomas\u2019 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\u2019s financial performance.\u00a0 We look forward to Thomas\u2019 continued contributions to the Company as Chief Financial Officer.\u201d<\/p>\n

Conference Call Details <\/strong><\/p>\n

AMD will host a conference call today at 9:15 a.m. PT (12:15 p.m. ET) regarding the hire of Mr. Read. On the call will be:<\/p>\n