Technology

Hector Ruiz Replaced by Dirk Meyer as AMD's CEO

As Q2 brings low stats

By Traian Teglet, Technology News Editor

18th of July 2008, 09:34 GMT

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As we informed you on Monday, Advanced Micro has been showered by the media with quite a few favorable pieces, thanks to its latest Radeon graphics cards. Nevertheless, this fails to change the fact that, overall, the company isn't doing all that well, a thing that is more than obvious in the Q2 figures registered, which have been made public by the company just recently.

The stats were announced yesterday and, by the looks of it, AMD is still on a steep downfall, at least as far as its revenues are concerned. Furthermore, on the same occasion of making the financial results public, Advanced Micro also revealed that it would no longer be an

active participant in the handheld and digital television business, and that Hector Ruiz would step down as the company's CEO.

The vacant position has already been occupied by Dirk Meyer, per the decision of the company's board. He will have the tough job of bringing Advanced Micro back to its former glory but one thing that will most certainly come in handy is his experience - he's been with the company for 12 years now. Meyer left his former COO (chief operating officer) position in order to replace Ruiz. Apparently, Hector Ruiz will not be leaving the company, as he will assume the position of executive chairman and chairman of AMD's board of directors.

"AMD has fundamentally altered the industry landscape, leading the innovation agenda while delivering greater choice and better experiences for our customers and users," said Hector Ruiz. "Dirk is a gifted leader who possesses the right skills and experience to continue driving AMD and the industry forward in new, compelling directions. I am placing the company in excellent hands."

The figures just released indicate that AMD has lost $269 millions on "continuing operations," such as its processor and graphics divisions. Although there was a considerable improvement this year, as opposed to last year's $531 million loss from the same businesses, AMD still has a lot of work to do in order to become a profitable company. This is exactly what the new CEO, Dirk Meyer, will have to focus on: bringing AMD back on track with the release of new products that will be able to compete with both Intel and NVIDIA's.

TAGS:

AMD | CEO | chairman | Hector Ruiz | Dirk Meyer

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