Feeds

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

Yet another leadership transition for Intel's only ARMless competitor

SANS - Survey on application security programs

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. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Intel sees 'signs of improvement in the PC business' but earnings remain 'Meh...'
Prospects for the future, however, please Wall Street money men
What's a right pain in the ASCII for IBM? Its own leech-like hardware biz
Keep your eyes on our cloud while we remove this pesky thing, say execs
Oracle's Larry Ellison has the MOST MASSIVE PACKAGE IN PUBLIC
Billionaire IT baron earns twice as much as the next in line, Disney chief Bob Iger
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
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.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
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.