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In its second quarter earnings call, AMD announced that long time CEO and chairman Hector Ruiz is stepping down to the role of executive chairman and Dirk Meyer, previously president and COO is now president and CEO.
Ruiz said “It’s time to turn the company over to a new leader,” and that Meyer is “the right leader at the right time.”
The move comes as AMD announced a net loss of $1.189 billion for the second quarter and that it was divesting its handheld and DTV product businesses in order to be able to reclassify them as discontinued operations for the purpose of financial reporting.
Ruiz said “It’s time to turn the company over to a new leader,” and that Meyer is “the right leader at the right time.”
The move comes as AMD announced a net loss of $1.189 billion for the second quarter and that it was divesting its handheld and DTV product businesses in order to be able to reclassify them as discontinued operations for the purpose of financial reporting.
AMD CEO Hector quits - AMD announces appointment of Dirk Meyer as President and CEO of AMD :: HEXUS.channel - The online home of the UK technology channel
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