Feeds

AMD CEO Dirk Meyer resigns

CFO steps into breach

Top three mobile application threats

Mere days after AMD's "Fusion era" began, the Dirk Meyer era ended. The company's president and CEO resigned Monday afternoon, effective immediately.

"Dirk became CEO during difficult times. He successfully stabilized AMD while simultaneously concluding strategic initiatives including the launch of Global Foundries, the successful settlement of our litigation with Intel and delivering Fusion APUs to the market, said AMD board chairman Bruce Claflin in the traditional nicey-nice send-off statement.

Those complimentary comments completed, however, Claflin continued in a more-direct manner: "The Board believes we have the opportunity to create increased shareholder value over time. This will require the company to have significant growth, establish market leadership and generate superior financial returns. We believe a change in leadership at this time will accelerate the company’s ability to accomplish these objectives."

The first step in that leadership change is CFO Thomas Seifert immediately stepping into Meyer's shoes as interim CEO while a search committee led by Claflin trolls for a new CEO to lead the struggling company. While that worthy is being identified, Claflin will upgrade his title to executive chairman.

In addition to taking the reins as interim CEO, Seifert will continue his CFO duties while Claflin "assumes additional oversight responsibilities." Seifert, AMD reports, "has asked not to be considered for the permanent CEO position."

To calm investors, AMD also made public some preliminary results for its fourth quarter of 2010: revenue of approximately $1.65bn, an increase of two per cent when compared with its third quarter results.

Those figures come as no surprise. During a conference call with reporters and analysts when those third-quarter figures were announced, Seifert said "For the fourth quarter of 2010 we expect revenue to be approximately flat as compared to the third quarter."

And so they were.

Wall Street reacted negatively to the news – but only slightly: during Monday's trading AMD's stock rose by a bit over 4 per cent, and during after-hours trading immediately following the announcement, the stock dropped approximately the same amount. ®

3 Big data security analytics techniques

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.