zatoicchi
18.07.08, 08:17
Hector Ruiz was pushed aside Thursday after six tumultuous years as CEO of Advanced Micro Devices Inc., as the chip maker tries to pull itself out of a deep financial hole caused by a questionable acquisition and a major product gaffe.
Ruiz, 62, who had been the only person to head AMD other than founder and longtime chief executive officer Jerry Sanders, is stepping down as CEO but will remain on the board of directors. Ruiz, one of the few Hispanic CEOs of a major U.S. corporation, had also been AMD chairman but now takes on the title of executive chairman, a distinction that lets him retain some day-to-day responsibilities.
He's being replaced as CEO by AMD's current chief operating officer, Dirk Meyer, 46, an engineer and chip designer who has been helping Ruiz run the company since 2006. That means he knows AMD's operations intimately but also that he shares some of the responsibility for the company's financial distress.
"He is the right leader at the right time for this company," Ruiz said.
Meyer had previously led AMD's microprocessor division, the company's primary business unit. Microprocessors act as the brains of personal computers.
CEO of AMD out as losses mount (http://www.cbc.ca/technology/story/2008/07/17/tech-amd.html)
Ruiz, 62, who had been the only person to head AMD other than founder and longtime chief executive officer Jerry Sanders, is stepping down as CEO but will remain on the board of directors. Ruiz, one of the few Hispanic CEOs of a major U.S. corporation, had also been AMD chairman but now takes on the title of executive chairman, a distinction that lets him retain some day-to-day responsibilities.
He's being replaced as CEO by AMD's current chief operating officer, Dirk Meyer, 46, an engineer and chip designer who has been helping Ruiz run the company since 2006. That means he knows AMD's operations intimately but also that he shares some of the responsibility for the company's financial distress.
"He is the right leader at the right time for this company," Ruiz said.
Meyer had previously led AMD's microprocessor division, the company's primary business unit. Microprocessors act as the brains of personal computers.
CEO of AMD out as losses mount (http://www.cbc.ca/technology/story/2008/07/17/tech-amd.html)