Feeds

More heads roll at AMD

Bonuses for the head honchos

Internet Security Threat Report 2014

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.