Feeds

CFO Seifert finds AMD's executive exit door, walks through it

Yet another leadership transition for Intel's only ARMless competitor

The essential guide to IT transformation

The personnel changes in AMD's executive suites continue with the resignation of the company's CFO, Thomas Seifert, on Monday.

"Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," the company assured investors in a statement announcing Seifert's departure to "pursue other opportunities."

Assurances aside, AMD's stock was down nearly 13 per cent in after-hours trading following the announcement.

Seifert joined AMD in 2009, and handled the company's CEO duties in the interim between the departure of then-CEO Dirk Meyer in January 2011 and the arrival of Rory Read, former Lenovo COO, as the company's new president and CEO that August.

Meyer, by the way, was followed out the door in February 2011 by chief operations and administrative officer Robert Rivet and corporate strategist Marty Seyer.

Other changes followed. The general manager of AMD's Product Group, Rick Bergman, left in September to "pursue a new opportunity," IBM/Apple/Cisco wanderer Mark Papermaster joined AMD as CTO the following month, and head marketeer and ex-Sunner Nigel Dessau found the exit two days before last Christmas.

Also in December, Read hired Lisa Su, late of IBM and Freescale, to head up AMD's then-new Global Business Units division, and in January of this year he recruited Rajan Naik away from his management consultancy gig at McKinsey & Co. to be his new corporate strategist.

Read's most recent hire – at least at the loftier levels of AMD's engineering hierarchy – was Jim Keller, who he snatched from Apple to be the chief architect of AMD's microprocessor cores, working under Papermaster.

And now CFO Siefert is gone, to be replaced on an interim basis by Devinder Kumar, who is currently AMD's corporate controller and a 28-year veteran of the last surviving Intel competitor.

One Reg hack reported hearing rumblings among some chipheads at the recently concluded Intel Developer Forum that Seifert was holding AMD back, and that unless he left, the company would remain stalled.

We'll now watch to see if they were right, and if the good ship AMD can continue to right itself. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
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.
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?