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.

"We believe
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.


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