Feeds

More heads roll at AMD

Bonuses for the head honchos

The Power of One Infographic

Two more executives are being shown the door at chip maker Advanced Micro Devices – but two others will be getting juicy bonuses.

This morning after Wall Street opened, AMD filed an 8K form with the Securities and Exchange Commission that said Robert Rivet left AMD on February 8.

Rivet joined AMD as chief financial officer in September 2000 from Motorola, where he topped out at director of finance for Motorola's semiconductor products area after 24 years at the telco products maker. (That division, which had $8bn in sales and 34,000 employees, was spun out as Freescale Semiconductor.) Rivet was eventually named vice president and chief operations and administrative officer at AMD, where he ran the company's supply chain, human resources, and internal IT operations.

Mike Silverman, senior manager of global communications at the chip maker, told El Reg in an email that Marty Seyer, senior vice president of corporate strategy, is also leaving AMD.

"Both are leaving to pursue new opportunities and are expected to remain through a brief interim period to help ensure seamless transitions," Silverman explained in the email.

Starting yesterday, John Docherty, senior vice president of manufacturing operations, has responsibility for all aspects of product manufacturing at AMD; he will report directly to Thomas Seifert, the company's chief financial officer and interim chief executive officer, stepped into the breach after Dirk Meyer, AMD's president and CEO, was forced to resign on January 10.

El Reg has speculated that one of the main reasons why Meyer was asked to leave is that AMD has lost momentum, market share, revenue growth opportunities, and profits to Intel in the server racket despite putting technically decent Opteron chips into the field without bugs. AMD has had some issues with the 32 nanometer ramp, which has caused delays with PC and notebook chips and has kept AMD from reaching parity with Intel's Xeon processors on the server front. And AMD doesn't really have a product to play in the exploding smartphone and tablet markets, and this is a big problem, too.

"Docherty is playing a key role overseeing the transition to 32 nanometer," Silverman said. Docherty will lead AMD's Global Operations organization. This includes the company's assembly, test, mark and pack (ATMP) operations; its supply chain and global supply management; global logistics; and sales and operations planning.

With Rivet gone, AMD's corporate strategy team will report to Harry Wolin, who is senior vice president, general counsel, and secretary for the chip maker.

In a separate 8K filing with the SEC on February 8, the compensation committee at AMD gave Seifert a $1.05m cash bonus for calendar 2010, payable in March 2011. Emilio Ghilardi, senior vice president and chief sales officer, is getting a bonus of $942,865. AMD said that the bonuses were tied to non-GAAP operating income results for AMD in 2010. On a non-GAAP basis, AMD shifted from a $112m operating loss in 2009 to a $553m operating gain in 2010. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.