Sunnyvale, Calif. – Characterizing the move as a
"mutual" decision, chipmaker AMD late Monday announced the
resignation of Dirk Meyer as its president and CEO — roles he had held since
The company has named CFO Thomas Seifert as interim CEO, while it
launches the search for a permanent replacement.
The company credited Meyer
with helping stabilize its finances during difficult times, but said a change
was necessary to help increase shareholder value.
"This will require the
company to have significant growth, establish market leadership and generate
superior financial returns," said Chairman Bruce Claflin.
a change in leadership at this time will accelerate the company’s ability to
accomplish these objectives."
Seifert joined AMD in 2009, after serving as
the COO and CFO of Qimonda AG.